Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

As each community is unique, however, so is each industry. A word on the idiosyncrasies of the consumer electronics industry is therefore in order. This sector suffers most acutely from one of the most enduring problems of free enterprise: overproduction. The constant revolution in materials and manufacturing has produced more goods ever more efficiently with fewer inputs, and this phenomenon has continued to lower prices and undermine the rate of return on investment for firms willing to enter this fiercest of industries. Since the advent of both radio and television, each generation of consumers has been able to purchase a better product at a lower price than the previous one. Crisper pictures, clearer sounds, and more compact sets have all been delivered to consumers with a shrinking price tag. With a relentless downward pressure on production costs, the search for cheap labor has held a pivotal position in firms' strategies to beat their competitors. This pressure has placed the burden of low prices on the shoulders of people toiling on an assembly line that stretches from New Jersey to Chihuahua. Because of the particularly brutal competition that shapes this market, the RCA story offers a more compressed and heightened example than is likely to be found in other industries. The tale of this company's flight, rather than emblematic of larger trends, might more appropriately be regarded as a bellwether for the broader path of industrial employment.

—p.8 Introduction (1) by Jefferson R. Cowie 2 years, 10 months ago