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Reply #17: One problem (hypothetical) [View All]

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legin Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-17-03 04:21 PM
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17. One problem (hypothetical)
You live in a village of 100 people in rural Vietnam. Your annual salary is $100. The total salary of the village is $10,000 per annum. You and the people in your village are just managing to not quite starve.

In your local town a multinational has just moved in and set up production. They are paying the going rate for the town of $300 per annum. However the unemployment figure for the town is 50%.

A village meeting is called, the question being "Is it time to move and seek employment in the town ?"

The answer is yes.

50 of the villagers will get employment at 300 = $15,000.
50 of the villagers can sift through rubbish tips for things worth saving or they can beg on the streets, for an income of $10 per annum = $500.
So the total income for the village is $15,500.

It is only not worth them going if the umemployment figure for the town is 66%.

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