thewayne: (Default)
The Wayne ([personal profile] thewayne) wrote 2025-05-04 01:06 am (UTC)

This 2015 article is a good source:
https://theweek.com/articles/486362/where-americas-jobs-went

Especially this quote about then GE CEO Jack Welsh: "The trend began in earnest in the late 1970s at large manufacturers such as General Electric. GE’s then CEO, Jack Welch, who was widely respected by other corporate chieftains, argued that public corporations owe their primary allegiance to stockholders, not employees. Therefore, Welch said, companies should seek to lower costs and maximize profits by moving operations wherever is cheapest. “Ideally,” Welch said, “you’d have every plant you own on a barge to move with currencies and changes in the economy.”

This 2004 page from the AFL/CIO is also informative:
https://aflcio.org/about/leadership/statements/outsourcing-america

Basically the Golden Rule showing that the government has been beholden to those with the money for a very long time.

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