Nike 's Critique Of Modern Free Trade Markets And Advanced Capitalism

1468 Words Jul 2nd, 2015 6 Pages
Nike is a text-book example of modern free trade markets and advanced capitalism – and not necessarily in a good way. The company has been doing aggressive outsourcing since the 1970’s and it has been directed mainly towards Asian countries. These days Nike has over 900 contract factories which employ over a million workers in about 45 different countries. The numbers illustrate Nike’s wide outsourcing, which is bound to create challenges. Through-out its history, Nike has been accused of inhumane labor conditions in its contract factories (Nike does not own any factories) regarding for example wages, safety and child labor. Even though Nike has committed to corporate sustainability it is battling in the gray area of morality, sustainability, human rights and labor rights issues, thus making it a classic example of how capital can have deep and severe impacts on the life of others. When making an argument regarding the Nike’s case, one can easily use the reasoning of classical economic theorists such as Hegel, Marx, Polanyi, Lenin and List. Nike’s example also gives us an insight into the modern world’s global economy issues. These days’ large companies aggressively tend to escape government taxation, employer costs and seek low-cost production: more often the costs of such actions have severe domestic and abroad impacts. At home, the society loses job opportunities and taxation and thus cutting down the welfare, and abroad the presence of the company might lead to worker…

Related Documents