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This naturally has serious consequences on the personal economy of the fired people, and is a terrible waste of money, since the funding spent on education is rendered useless when the knowledge gained from the education is not put in proper use. The money is also wasted if the person working under his capacity makes less money than if he was if he was working at his full capacity, which has to be calculated as a loss, since money is lost relative to optimal circumstances. Because of the foreign competition, workers are commonly subject to lower pay, longer hours, and worse work conditions from their employers, since the company is falling behind because of the inability to compete against the foreign competition (Businessweek)...
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