Re: Re: Re: Re: Re: My Take on Competition

[Doug Henwood]

Michael Perelman wrote:

>Doug, I am sorry if I gave the impression I thought that IP was the 
>only factor
>at work.  I would not deny the importance of any of the factors that you
>mentioned.  I would only add that the increasing markup over cost does work to
>lower the real wage.

In No Logo, Naomi Klein argues that high marketing costs for branded 
items put intense pressure on firms to minimize labor costs. So maybe 
the wage effects of Nike should be located in Indonesia, Vietnam, and 
China, rather than in the U.S.

Doug