3) No manufacturing jobs should be outsourced to low-cost-labor nations. It should be kept in the United States making it competitive through increased productivity and lowering or even eliminating the cost of interest, energy and healthcare about which we'll discuss in another article. Further, our tax system should focus exactly on promoting the implementation of this economic-policy, therefore making it easy and available for all corporations for utilization.
4) If we are to outsource jobs to a low-cost nation, it should be jobs in the service sectors that create very high "social cost" at the expense of our "social benefits." Until now, we have ineptly outsourced at an increased pace those jobs that have been the sources of "social benefits" and kept jobs that created growing "social cost." This must be reversed. An article about this issue is being prepared.
5) Increasing the bottom line of a company should be achieved through business activities and performance which would reduce social cost to the economy and environment as whole.
6) Decisions of CEOs to implement certain strategies to achieve the goal of profit maximizing should not undermine the future of their respective companies at the expense of short-term gains, whether with the existence of the company or its ability to continue to be competitive in markets in the future.
7) Under no circumstance should the level of the compensation of the highest earning CEO of a given company exceed more than fifteen or at most twenty times of the lowest earner(s) of that corporation. (As an example, under no circumstance could be justified that Jack Welch, former Chairman of GE to earn 2,500 times more than the average income of a GE employee!) This more than likely raise protest of many high earning CEOs who believe that without their contribution no great success could be achieved! I do want to emphasize that we cannot discount the performance of CEOs and their contribution to the success of their respective corporation, however a fair relation must exist between the levels of earning with CEOs with respect to their employees. This would definitely encourage employees to contribute to the continued growing success of those companies in the future.
Measuring the success of CEOs performance based specifically on these yardsticks rather than to unethical and inept methods of maximizing profits, we'll witness a general healthy and prosperous economy with little place for greed, exploitation, and devastation.
Farid A. Khavari is the author of nine books, dealing with issues of economics, environment, energy, oil, healthcare, currencies and cost.
Copyright @ 2011 by Farid A. Khavari
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
2
2
2
