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I think the key point that he's missing is that the chinese manufacturers are now manufacturing to the market's demand, and this is why China is growing rich. I
by danjayh 11y ago
I think the key point that he's missing is that the chinese manufacturers are now manufacturing to the market's demand, and this is why China is growing rich. In the old system, the state may have ordered the (state owned) pen manufacturer to make a top-quality pen. The manufacturer would have done its best to comply, but ultimately, would have made a product that nobody wanted. In the new system, the administration at the pen factory can look at the data on what sells, and produce that to provide maximum profit to the company and maximum utility to consumers within the constraints of the factory's capabilities -- in this case, that means cheap, crappy pens. Importantly, these pens sell well, turn a profit for the factory, and provide the income needed to feed, cloth, and house all of its workers.
- ArleneBarlow 11y agoThe freemarket is at it again.
- lispm 11y agoIt's hard to believe that in a market with a billion consumers there is not enough demand for slightly higher goods. But product quality is not just about the ball of the pen. Product quality is about the whole product and its place in the environment: labor conditions, energy production/use, material use, waste treatment, usability, precision, etc.
- gambiting 11y agoThere probably is. But that market is probably sufficiently satiated with foreign pens, and not large enough to warrant domestic production.
- dagw 11y agoIt's hard to believe that in a market with a billion consumers there is not enough demand for slightly higher goods. People who want and can afford higher quality goods, can probably also afford imported goods and the higher status they give.
- something2324 11y agoDid you even listen to the program? They say exactly that