Tuesday, January 24, 2012

The iPhone Economy

Check out this interesting video from the NY Times. While I agree with this video for the most part, I have seen a number of companies bringing back shops to the mainland US due to rising shipping costs.

http://www.nytimes.com/interactive/2012/01/20/business/the-iphone-economy.html?ref=business

2 comments:

  1. That's a nice video. I had actually posted a link to the related article on my blog. Unfortunately, we can not complete with the labor that is available in China. Foxconn, who manufacturers the iPhone, operates an entire city in China where workers live. They work 12hr shifts, 7 days a week. These type of practices would never be allowed in the U.S.

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  2. It's all part of the economic development cycle. Lower skilled jobs migrate to the cheapest labor forces. Over time, their standard of living rises and then then lowest paying jobs move to another region.

    I like this video. Interesting look at the numbers. Manufacturing does have a large multiplier effect. That said, the avg American is far better off than we were a century ago.

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