obsolescence

Something Wrong With American Manufacturing

There is something wrong with the way American business performs. America does the R&D and introduces new gadgets to the market. It overprices and underproduces.

Like the transistor radio in 1954 - $49.95 - equivalent to $364 in 2006. The Japanese and Chinese jump on this and take over the market. Same with cameras, consumer electronics, household appliances, cell phones, cars, trucks, drywall, fruit cocktail, etc.

http://en.wikipedia.org/wiki/File:Regency_transistor_radio.jpg
Regency TR-1. $49.95 1954

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