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    Camera Sales: Nikon follows Canon
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    Good Read: Overdressed: The Shockingly High Cost of Cheap Fashion
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      To understand why fashion is so beguiled by overseas production, consider that even after outsourcing almost our entire clothing industry to low-wage countries, labor is still a huge part of the cost of garment production. According to recent estimates, raw materials account for 25 to 50 percent of the cost of producing an item of clothing, while labor ranges from 20 to 40 percent. Fashion is a labor-intense industry, not a technology-intense industry. You need someone to sit at a sewing machine. Clothing, even when produced in a factory, is really a handmade good broken down into assembly-line steps. The sewing machine is more a tool than a machine, as it really just facilitates and speeds up manual work. The uniquely labor-intensive nature of clothing is why sewing is one of the most common professions in the world and the most common profession in the fashion industry.

      That clothes are essentially handmade might seem obvious, but this simple fact has a profound effect on the prices we pay for our clothes. The wages paid to sewing machine operators and the money paid to garment factories enormously affects the prices we pay for fashion. To make a cheaper car, cheaper parts are necessary. Cheap fashion does rely on cheaper materials, but difference in fabric prices between two countries, for example Japan and China, might be fifty cents, not enough to really impact price tags. That’s not where savings are. It’s labor. Over here, there are labor laws. And we can’t pay less than the minimum wage. To make cheap clothes, you really need cheap labor.

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    Capitalism: The only moral system
    • Usual Austrian school thing:

      Capitalism is the only moral system because it requires human beings to deal with one another as traders — that is, as free moral agents trading and selling goods and services on the basis of mutual consent.

      Well, shit. If you want to sell your workforce it is not free will and not mutual consent despite someone wanting to say you otherwise. As you need to eat and live somewhere. You are not on equal terms with owners.

      Even if you buy something in shop you are not on equal terms with corporations who own shop and get 300% margin (with 50% sale on item :-) ) and manufacturer who used some toxic shit making it. You just can not compete with them, as do not have equal access to information.

      And yes, capitalism is the only moral system. It is true. Just small thing that ruling class forgot to tell you. It is moral to them. As no such thing as moral exist outside specific class. For capitalists all is moral. Good for them, bad for ya.

      Capitalism is the only just system because the sole criterion that determines the value of a thing exchanged is the free, voluntary, universal judgment of the consumer. Coercion and fraud are anathema to the free-market system.

      Coercion and fraud are usual in capitalism, any lawyer specializing in business will say you this, or anyone who did business on long enough time.
      As we saw above, exchange is made with different access to information and with different power. You can read some stories of Walmart behavior with suppliers as example.

      It is both moral and just because the degree to which man rises or falls in society is determined by the degree to which he uses his mind. Capitalism is the only social system that rewards merit, ability and achievement, regardless of one’s birth or station in life.

      Science research of capitalism proves this false. Statistics and any polls will say same. Anyone who know how corporate ladder works can also laugh very loudly here.

      Yes, there are winners and losers in capitalism. The winners are those who are honest, industrious, thoughtful, prudent, frugal, responsible, disciplined, and efficient. The losers are those who are shiftless, lazy, imprudent, extravagant, negligent, impractical, and inefficient

      And this is just perfect example of idealism, as philosophical foundation of capitalism. You are poor despite working hard and very good? Well, blame on you, you made something wrong, work still not hard enough, get second job, etc.
      What? You ask why this guy do not work at all and owns millions? Stop asking such question, he is the "chosen one", you do not see his hard intellectual breakthrough that happened once he was born son of bank owner.

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