Wisconsin's Foxconn Boondoggle Is Getting Worse
reason.com
reason.com
Note: this does not necessarily apply beyond "cheap" consumer goods. For example, cars and trucks are still produced at many US plants for a variety of reasons.
Speak for yourself. I think the investor culture is where this comes from, more than from the people operating the businesses.
This is false, and understanding that is key to understanding why globalization brings greater efficiency.
A local supply chain may only cater to local customers, leading to substantial loss of efficiency due to lack of scale.
A local supply chain might use inputs which cannot be transported (labor, electricity), and those might entail more resource cost (Americans are much more resource intensive per person than Indians, coal power stations use more resources than geothermal).
Where externalities are correctly priced, and without tariffs or subsidies, buying from wherever is cheapest will always work out most resource efficient.
> Where externalities are correctly priced, and without tariffs or subsidies
Where is this market!?!? We live in the real world with events, people, and utterly irrational decision makers.
If you disagree that some rust belt towns are dependent on a single corporation, I think you are either using a different definition of dependent than how I read the original comment use it, or you are not aware that towns where a single factory employs a significant portion of the towns population exist.
The fact that people in these towns can continue to live in them and easily telecommute like any other US citizen or even physically commute to the nearest major US city means that the citizens are not dependent on a single industry.
It's well produced podcasts done well. If you took This American Life and scaled it to few slightly more targeted podcasts but kept the same quality, that's what they offer. That's less a metaphor than a description of history, given the original founder cut his teeth on TAL and then started Planet Money (also still excellent) before starting his own company.
Okay, that's enough fanboying from me. It's just that I listen to a lot of podcasts, and Gimlet accounts for a large amount of my favorites.
It's not often that you play poker with the Devil, and due to a technicality in his contract for your soul, you're allowed to fold and walk away. If you ever get that lucky, you just cut your losses, walk away, and count your blessings.
Why would the trade war with China kill off this deal with a Korean company?
* Foxconn scraps plan to build factory in Wisconsin, will hire white-collar workers instead https://www.washingtonpost.com/business/2019/01/30/foxconns-... * Foxconn and the village: the $10B factory deal that turned one small Wisconsin town upside down https://www.theverge.com/2018/12/6/18128133/foxconn-deal-wis... * What Foxconn’s really doing in Wisconsin, with Reply All’s Sruthi Pinnamaneni https://www.theverge.com/2018/12/11/18136020/foxconn-wiscons...