Franklin D. Roosevelt Quotes
There are practices which most people believe should be ended. They include … the shifting of actual production form one locality or region to another in pursuit of the cheapest wage scale.
This practice which was considered immoral, unethical, and harmful to society in 1938 was considered sound business 60 years later with globalization. In 1938 a minority of Americans argued that the practice was desirable; in 1998 a minority thought that the practice was harmful.
Franklin Delano Roosevelt, 1882-1945, 32nd President of the United States (Democrat, NY), State of the Union Address, 1938
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Fallows was contrasting the benefit that offshore manufacturing brought many Americans in addition to the damage to the Americans who lost their jobs to Chinese manufacturing workers. The complexity was that the offshoring of manufacturing does damage to many American blue collar but benefits white collar workers.
Hoover, a brilliant administrator, seems to have been on the wrong side of most economic issues.
He in that same year then persuaded sympathetic MP, John Hobhouse, to introduce the first bill into the House of Commons regulating child labor in the mills. Considered radical in its day, forbade employment of children under the age of 9 from working in the mills, and then limited the hours that children from 9 to 18 to 12 hours a day. The bill was rejected with the same claims that have been made regarding child labor reform attempts ever since. It would slow growth, harm the economy, exacerbate the poverty of poor families and interfere with the parents right to bring up their children. It was not until after his death in 1861 that meaningful child labor laws were passed for the British mills.
This is not a common quotation from Thoreau. The great man for whom the establishment had so much respect had a very anti-capitalist streak. His view is that the employer will generally never pay his laborers a fair wage. Instead he will pay the laborer the lowest rate for which he can obtain the laborers services. If the laborer generates added value for his wage, the employer is in a zero sum game with the laborer. If part of the added value—the profit is paid to the laborer, the employer does not have it for himself (or his stockholders). In most cases, the laborer is forced to work for his and his family’s subsistence. This theory argues that they only way the laborer will get a fair wage is if there is a labor shortage (assuming no government laws or union pressure is in the picture. Many capitalists argue that a “fair” wage is what a free man is willing to work for and a free employer is willing to pay. So economics is like politics in general with respect to fairness—there is no universally accepted definition of what is fair.
Franklin Delano Roosevelt, often referred to by his initials FDR, was an American politician who served as the 32nd president of the United States from 1933 until his death in 1945. A member of the Democratic Party, he won a record four presidential elections and became a central figure in world events during the first half of the 20th century. Roosevelt directed the federal government during most of the Great Depression, implementing his New Deal domestic agenda in response to the worst economic crisis in U.S. history. As a dominant leader of his party, he built the New Deal Coalition, which defined modern liberalism in the United States throughout the middle third of the 20th century. His third and fourth terms were dominated by World War II, which ended shortly after he died in office.
