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Technology Stocks : Applied Materials No-Politics Thread (AMAT)
AMAT 225.18-1.5%3:59 PM EST

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To: Big Bucks who wrote (7528)10/15/2003 11:44:40 AM
From: Fred Levine  Read Replies (2) of 25522
 
BB-- Clearly there are massive disparities of wealth. In fact, we stayed at the home of the factory owner, and it was between a mansion and a palace with a huge courtyard swimming pool. One old man had the job of having grass grow on a small patch of lawn. Rajastan was so dry, he couldn't succeed, but he had a job.

In this case, the factory owner paid $2 per day, and was also working on a development plan for the region, using much of his own money. He was an American.

Most of my family worked in sweat shops because they were the best available opportunities for immigrants. They became active in unions and improved their lot. The sweat shop was preferable to eating from garbage cans, which some did.

Where I really felt compassion was talking to a British social worker who was consulting to the Ethiopian police about what to do when pre-pubescent girls were beaten in brothels in the Mercado in Addis Abbaba. The parents sell these girls in order to eat, and many are abused. They knew they couldn't stop the practice, so they developed a safe house for the girls to escape.

An Indian social worker I knew who worked in American slums commented how wealthy our poor are by Indian standards-- food,telephones, toilets, running water etc. are all taken for granted here. Therefore, few of us have an inkling of the desperation of some of the world. IMO, genetic engineering of food should eliminate much despair, but creating jobs has great potential. IMO, the underveloped countries have choices between importing capital or exporting labor, or starving. The sweat shops are good place to be from. They're an, unfortunately, necessary start.

I don't know how many of you know this, but Brian has been active in developing a school in India as a way of helping.

fred
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