The Reason Why Corporations Continue to Outsource Jobs

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Corporations in the west started to dismantle labor unions in the late 1970’s and were successful in their pursuit as the economy at this time was starting to become globalized which allowed companies to threaten to migrate production overseas when workers threatened to strike or refuse their working conditions. This tactic forced labor unions to dissolve as refusal could and most likely would result in complete job loss for every member of the group. The administration of President Ronald Regan ushered in deregulation alongside multiple income tax cuts for corporations and wealthy individuals, and as a direct result of these policies, corporate shareholders began to exercise more and more influence over the way these companies conducted business. Feeling the pressure and scrutiny of Wall Street, businesses began to view labor as expendable and as an expense which needed to be offloaded from balance sheets, leading to many jobs being outsourced within a relatively short period of time, to more impoverished nations which had weaker labor laws but most importantly to the participating corporations, these states also had and continue to have much lower minimum wages which is the primary driving factor as to why outsourcing continues to occur in virtually all industrialized countries

The Financial Costs of High Society Dinner Parties During the Victorian Era

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During the 19th century, a typical high society dinner menu for 20 people would have cost $100.00 in total, for the Earl of an estate, equivalent to the annual salary of a maid for 2 full years of service. When accounting for inflation, the cost of hosting and entertaining a monarch during this period was even more costly, costing hosts approximately $500,000. Earl’s needed to constantly be aware of and ready for a royal visit as their title is considered one step below the pole position of Duke, which of course is one step below the title of King or Queen

One of the Key Factors Behind the Rise of the U.S. as a World Super Power

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The U.S. went from being an experiment in democracy and a colonial backwater during the 18th century, to the most technologically advanced and industrialized country in the world in the 20th century, with this incredible transformation occurring because of those who founded the country and their understanding that the U.S. could not farm its way to wealth, with innovation being encouraged and promoted. Because of this simple yet novel idea, ordinary people suddenly had the opportunity to invent and make life easier for society at large, and were incentivized to profit from these ideas because of patent protection. The Americans developed a system in which new ideas were sought after because they were profitable which is a much more powerful motivational factor than prestige alone or the will and desire to help the greater collective of civilization. It’s not that the U.S. population is more creative than other nations, rather it is because the U.S. government actively decided to back and support those who pursued invention by providing them with a high probability to a path of moderate to substantial fortune. Protecting invention is single handedly one of the most important and influential ideas which has ever developed within the U.S., and even during the modern era, countries which fail to inspire innovation and protect it from theft and exploitation, continue to play catch up with industrialized nations who do reward and promote innovation

Prince Albert’s Philanthropic Project of the South Kensington Museum

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Prince Albert owned the worlds largest collection of Raphael reproductions with over 50 unique portraits. Albert commissioned a photographer to go into the Vatican Museum in Rome, Italy and take photographs of all Raphael works. These photographs of course lacked color being a product of their time and technology, so hand painted versions were made using chromolithography technology. The intention of the collection was not simply to collect but rather to draw people into Windsor Castle to teach them about art history, which is actually the format in which modern day art historians teach artwork to students; in a photo library. Unlike most monarchs, Albert and Victoria wanted to feed the public with knowledge, art, and science. Albert believed that industry could place great works of art into the hands of the masses using manufacturing techniques which would cut costs dramatically. Albert was especially interested in batteries and their connection to various metals in different solutions. This borderline obsession was sparked when Albert seen a real rose turned to gold by dipping it into a chemical solution of chemicals which coated the rose, permanently changing its outer layer. This process is referred to as “electroforming” and involves dropping a dried rose into an electrically conductive material and attached to a battery. A solution of precious metal is prepared, typically gold, after which the rose is left to sit within the solution for a few moments. The rose attracts metal particulate within the solution because of its coating. Albert put on a great exhibition entitled the Great Exhibition of the Works of Industry of All Nations in 1851 which cost £335,742 which equates to £46,482,000 as of 2019 when accounting for inflation. The revenue from this project was £522,000 which equates to £72,269,000 as of 2019. Over 6,000,000 (6 million) people attended and exhibits from 25 countries were featured. Albert took the profits from this endeavor and purchased South Kensington Museum, a building which would be used solely for art, science, and industry to be displayed for the public. Because of Alberts involvement and enormous success, South Kensington Museum started to become referred to as “Albertopolis” meaning “City of Albert” in Greek. South Kensington Museum is the embodiment of Alberts enlightened belief that culture and learning should be at the very heart of any successful nation. South Kensington Museum opened on 1857 and is referred to during the modern day as the “Victoria and Albert Museum” or the abbreviation “V&A”. South Kensington Museum is the world’s largest museum of applied and decorative arts and design and sculpture and houses a permanent collection of over 2,270,000 (2.27 million) pieces. Alberts favorite place to get away in Buckingham Palace is the Print Room where his collection of Raphael’s are stored. Victoria could not bear to even enter the room for months after Alberts untimely death at age 42 in 1861

The Art Collection of King George IV

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King George IV’s excessive consumption was completely out of synchronization with his income with George IV needing to rely upon the British parliament multiple times to bail him out of financial ruin. George IV’s over spending was so bad that parliament actually forced him to marry in exchange for hundreds of thousands of pounds worth of debts to be forgiven. Although George IV is thought of as extravagant and profligatory, the truth is that the combined value of his collection equates to an average modern day value of £10,000,000 (£10 million) for every £1000.00 George IV spent during the 19th century. It should be noted that this large gain is due primarily to the intrinsic and irreplaceable value of the items as £1000.00 in 1800 would only be worth £83,000 as of 2019 when accounting for inflation

The Role of Dabbawalas in Indian Society

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Indian railways are unique in that they have what are referred to as “dabbawalas” which means “lunch box men” in Hindi as the term “dabba” means “box” or in this case “lunch box” in Hindi and the term “wala” means “man” in Hindi. These dabbawalas deliver food which has been cooked by the loved ones of the people who are eating it (e.g. spouse who cooks food while their significant other commutes to work. The first spouse has that food delivered to second spouse so that it is hot and ready to eat after having started the work day). This system works extraordinarily well as holding a bag while traveling upon any Indian train is nearly impossible due to the volume of people who use the railway each day. There are 5000 dabbawalas in Mumbai, India and this collective makes an astounding 200,000 deliveries per day, equating to each member of the group making an average of 40 deliveries each. Each dabbawala carries approximately 145 lbs. of food daily. The system is actually quiet elegant as some members pick up food, some members commute on trains with food, some members travel by bike or other vehicle with food, and all members typically share responsibility in that they trade meals if they run across a partner who is traveling the direction in which they need to go. This helps boost efficiency and allows for more income to be generated than if these individuals decided to work solo. Food is often marked with specialized code words so that dabbawalas know where something came from and where it is intended to be. Food is typically prepared by a clients wife, mother, or sister, but as India is changing and more women enter the workforce, shifts in who fills which role are beginning to emerge. Those who do not have a significant other at home who is available to cook for them will often have food prepared by restaurants or hotels and delivered via dabbawala. It typically costs 550 Indian Rupees ($7.75) per month which is affordable and within reach for most Indian citizens as even lower income members of society like dabbawalas earn 13,700 Indian Rupees ($192.00) per month. This system continues to flourish even as India moves into the 21st century with modern fast food and traditional restaurant establishments available to most people, as the cost is generally lower than eating out and the quality of the food is virtually always healthier. This is one of many reasons as to why leaders within this sector of business believe that the continued vitality of the industry will continue to last into the foreseeable future