(Roughly) Daily

Posts Tagged ‘forced labor

“Lifestyles of the Rich and Famous”*…

… in the age in which we live: two dispatches…

First, from the realm of real estate:

Nantucket, MA, has long served as a sandy summer paradise for jet setters such as Joe Biden, Ben Stiller, Kourtney Kardashian, and former Google CEO Eric Schmidt, among others.

Take, for instance, one six-bedroom house on Red Barn Road that was listed as far back as October 2020 for $2,995,000. Four years and four price cuts later, the 3.8-acre property is now listed at $1.7 million. Even so, it is still sitting on the market after seven months.

The listing agent, John Arena of Raveis, says he has received plenty of calls about the house, which is now in foreclosure.

“People are lined up to buy it,” he insists, adding that the foreclosure has prevented him from properly showing the house.

Shelly Lockwood of the real estate advisory firm Advisors Living has a different theory on why it hasn’t sold: The very beach the house sits on is slowly eroding away.

As a result, she says, “It’s falling in the ocean.”…

Buying in ‘Billionaires Isle’ Nantucket Is Now a Bargain: Homes Are ‘Falling Into the Ocean’

Next, from the arena of aristocratic accessories:

Two Italian luxury giants pay just a small amount to produce handbags that retail for thousands of dollars, according to documents in a sweeping investigation of subcontractors.

Italian prosecutors in Milan investigated the LVMH subsidiary Dior’s use of third-party suppliers in recent months. Prosecutors said these companies exploited workers to pump out bags for a small fraction of their store price.

Citing documents examined by authorities, Reuters reported last month that Dior paid a supplier $57 to produce bags that retailed for about $2,780…

The relevant unit of Dior didn’t adopt “appropriate measures to check the actual working conditions or the technical capabilities of the contracting companies,” a prosecution document said, according to Reuters.

In probes through March and April, investigators found evidence that workers were sleeping in the facility so bags could be produced around the clock, Reuters reported. They also tracked electricity-consumption data, which showed work was being carried out during nights and holidays, the report said.

The subcontractors were Chinese-owned firms, prosecutors said. They said most of the workers were from China, with two living in the country illegally and another seven working without required documentation.

The probe also said safety devices on gluing and brushing machines were removed so workers could operate them faster…

The probe also extended to Giorgio Armani contractors, and the luxury company was accused of not properly overseeing its suppliers.

Armani paid contractors $99 per bag for products that sold for more than $1,900 in stores, according to documents seen by Reuters…

As Kevin Kwan observes, too often the allure of luxury is simply an escape from reality…

Long-running television series

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As we head back to basics, we might recall that it was on this date in 2002 that a modernization of the classic Cinderella folklore, A Cinderella Story, premiered. Panned by critics, the film was a box office success, grossing $70.1 million against its $19 million budget, and inspired multiple straight-to-video films. Indeed, over the years, it has developed into a cult classic.

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Written by (Roughly) Daily

July 16, 2024 at 1:00 am

“Those who deny freedom to others, deserve it not for themselves”*…

It’s all too easy to believe that slavery is a thing of the past. The reality is different…

Slavery officially ended in 1981, when Mauritania became the last country to ban forced labour. But in practice it remains surprisingly common. On any given day, at least 49m people are in modern slavery, according to a new report by the UN and Walk Free, a human-rights group. The report defines modern slavery as people either forced to work or forced to marry. Such issues are often seen as a problem confined to the world’s poorest countries. But the authors of the report reckon that more than half of the global incidents of forced labour last year happened in what the World Bank defines as upper-middle and high-income countries (though poorer countries had a higher rate per 1,000 people).

To estimate the prevalence of forced labour, the authors interviewed around 78,000 people from 68 countries. In some places, such as North Korea, it is impossible to conduct such surveys, so estimates are less reliable than in more developed countries. According to the report, countries in Asia and the Pacific are host to more than half of all incidents of forced labour. Though as a proportion of the population Arab states were the worst offenders, with the equivalent of 1% of their populations enslaved.

The already grim situation is getting worse. Between 2016 and 2021 an additional 2.7m people worked in forced labour, taking the total to nearly 28m—more than 3m were children, though the data show that number is falling. Forced marriages increased by 6.6m over the same period, to a total of 22m. That may be an undercount: respondents were asked if they consented to their marriage, meaning that people who were forced into a relationship but later accepted it would not be counted in the data. Women and girls made up the biggest share of forced marriages, though one-third of those coerced into wedlock were male.

The most common type of coercion faced by workers is non-payment of wages. The fact that covid-19 lockdowns decimated many people’s incomes made it easier to exploit that vulnerability. In wealthier countries, sectors including agriculture, construction, domestic work and fishing were found to have the highest rates of forced work, with the private sector responsible for the majority of cases…

The plague is getting worse: “The number of people in modern slavery is increasing,” from @ECONdailycharts.

* Abraham Lincoln

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As we stamp out servitude, we might send free birthday greetings to David Walker; he was born on this date in 1796. The North Carolina born son of a slave father and a free African American mother, he was born free and made his way to Boston, where he became an outspoken abolitionist. From 1827-29, he was the Boston representative and correspondent for New York City’s short-lived but influential Freedom’s Journal, the first newspaper owned and operated by African Americans.

In 1829, he published An Appeal to the Colored Citizens of the World, a call for black unity and a fight against slavery. African Americans throughout the South got hold of Walker’s Appeal, enraging Southern governments. Less than one year after the publication of the Appeal, Walker was found dead of unknown causes. A $1,000 reward had been offered for his death.

The issue of Freedom’s Journal containing the first version of the “Appeal”; subsequent editions followed (source)