What Happened to the American Dream? Neoliberalism - Bulova transistor radio
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- Опубликовано: 14 окт 2024
- This little transistor radio, from around 1959, contains a secret--a key--that unlocks the answer to "what happened to us?" What happened to the American economy, an economy that once created the richest middle class in world history?
Yes, this little radio was a turning point of historic importance to the US economy. Made around 1959, this radio was branded Bulova and it was made in .. well, here's the thing,.. it doesn't say where it was made. Now in America if a product doesn't say on the outside of it where it was made, then it was made in the USA. Because in America, only products made outside of the US are required to say so on them. This is a "regulation." And you know, a lot of businesses hate government regulation. And Bulova especially hated this one. Because they believed that in 1959, that many of their customers would reject this radio if it had the words "Made in Japan" on it. You see, Japanese goods were, at that time considered by a lot of Americans to be.. cheap and substandard in quality. This belief was rooted in lingering resentment over World War 2, exacerbated by remembered war propaganda ginned up in that effort. It's hard to turn that sort of thing off. So such feelings lingered in the popular culture after the war the way negative stereotypes always do. And the stereotype was useful to those who would exploit it. American corporations cynically used it to persuade people to "buy American." And this is where propaganda slides ever so easily into advertising so that no one quite knows the difference.
So Bulova, a high-end brand sold in jewelry stores, would rather leave that "Made in Japan" off the radio it was planning, thank you very much. But there was that pesky regulation, known in US law as The Tariff Act of 1930, that required that “every article of foreign origin ((or its container)) imported into the U.S. shall be marked with its country of origin.” But what if?... Bulova says to itself.. What if?... we had the radio's CHASSIS built for us inexpensively in Japan. And we brought those chassis into the US in bulk, then assembled them here into American-made radio cabinets. Could we then call them American-made radios? --and not have to say "Made in Japan" even if the entire works of the radio were indeed made in Japan?
And that appears to be what they did, although it can be argued that the cabinet too appears to have been made in Japan. But Bulova isn't saying... The radio is, officially, "made in the USA." Did Bulova cheat people with a chassis that was a cheap piece of junk? No, they didn't. And it wasn't. Notwithstanding the stereotype, this was a quality radio made by the respected Japanese firm Matsushita, makers of a brand that would later become well known and respected worldwide,.. Panasonic.
I refer to the decision by Bulova to source this radio in Japan as a historical turning point. And here's why. In the new economic doctrine of the time, called market fundamentalism, or neoliberalism, it was considered right and proper for free-market capitalism to exploit lower wages in the far east to build things, then turn right around and sell those things back into the home country, EVEN IF that meant the destruction of jobs in that home country. Even if that meant the destruction of whole industries in that home country.
What ensued in the next decades under neoliberalism was a massive shift in wealth upwards to the already-rich. Neoliberals in the government slashed the top income tax rate from 91% under Eisenhower to 37% today. And we wonder where our inequality problems come from. Neoliberal doctrine hollowed out the American middle class, by design, as jobs went overseas. And the American dream, once a reasonable hope for all, became impossible for most.
So nobody believes in neoliberalism anymore,.. right? Well, no. Our political parties will blame each other for the RESULTS of this economic policy, but both Republicans and Democrats have long supported it, and support it still. You have to look outside the two-party duopoly to find anyone opposed to it.
This pervasive neoliberal doctrine has flown under the radar for most of us all this time. Admit it, you never even heard the term until just recently. But it was never hidden. It was given voice most publicly in the United States by economist Milton Friedman, beginning in the 1950s. By the late '50s, many American companies, and entire industries, began using the new economic theory to justify offshoring production to the far east, ..and in doing so, to maximize profit at ANY cost, even the sustainability of their own companies. They ditched the public good for shareholder value, and short-term profit. Oh and when I first became aware of this theory in the early 1970s, I'm ashamed to say I became a firm believer. After all, Friedman won a Nobel Prize in 1976. Neoliberalism was embraced by Ronald Reagan in 1980 and became a core tenet of his presidency.
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Most of my Panasonic products are built like tanks.. very robust.
Greed is what killed off the American electronics industry. It’s currently killing off the automotive industry. Thank you for this commentary. We really need this… right now. We need to wake up and realize that we need to make our own stuff.
Made in America needs to be more of the fact. No more "made in China" communist ideology and corruption
Awesome video! I just found your channel and was so impressed! I have been saying this same thing for decades. I too was made in 1959. And throughout my life, I watch neoliberalism replace out way of life leaving us to rot in the dust for corporate greed and corrupt government! Today, I run a very small business restoring radios and fans from the very early 1900s till the mid 1950s (ElectroRestore). No other profession has given me more joy, than servicing these 70+ year old devices that were made with the utmost integrity, quality, longevity, and at lowest possible cost, all 100% made in the USA! Obviously, I am a new subscriber!
Another great video and history lesson. Thank you.
Yes what happened to the pride and long term thinking for the good of all the customers, workers, company and ultimately the country!
That hit the nail on the head.
Good video, I must recognize. This is not about radios, it’s about economic policies of the mid 20th century onwards. Well done.
Very good video
you always have a good point, glad to see another good video!
Very well said, sir!
"Rome wasn't built in a day, but it sure burned in one"
Correct, as always!
How can we sleep when are beds are burning. And they want to take more! Good show. Yes that tranistor raido from 1959 does say it.
This video needs more reach.
When you lose your own value of yourself, that becomes insecurity, then fear, and start to become less conscious of your own knowledge and that drives to others to make more guns and that resemble a like a Soviet Union type of thing.
Nothing lasts forever and fright do on us less to be aware of changes around the world. Then we become irrelevant. Empires born and die, but the good lessons about US achievements goes on as an inspiration to other nations and the whole world. Education and ability to think critically are the tenants for a democracy to work and not a dictatorship like we saw in the 1930 and 40s.
O, how the mighty have fallen...
This is a nice illustration that while unfettered (i.e. "neoliberal") free markets might maximize *some* things, such as shareholder profit, they do not maximize all *important* things.
It's not "communism" to say that it might be a good thing for consumers to pay a bit more for a radio or a car because it is built here if that expenditure benefits the people who live and work here.
With that said, I don't know how you unscramble this particular egg. Import tariffs won't work if minimum wages and strong unions don't allow US consumers to pay for them.
Lovely collection of Radios you have and a great style of writing and presentation, still working through last weeks epic.
Today another interesting social commentary. ...oooops sorry I used the S word I know that triggers Americans who confuse it with Communism. There comes a time when you inevitably start your way down the 'Bell curve' the steeper the curve and the greater the gains but the faster the decline.
Capitalism (thats a good word isn't it) and the need to feather ones nest as quickly as possible encourages and promotes growth. But at a cost as Domestic market can only support so much then there is no more to grow. A solution is to pay some country in need of $ to do the hard work so you can reduce labour cost to profitably maintain your market share.
But that cannot last as those you pay become wealthy whilst you become weak and start your way down the 'Bell curve' to an inevitable take over. Socialism (sorry USA but it does exist ) flattens the curve so many enjoy the security and benefits of trade thus flattening the curve and hopefully enjoying a pleasant secure existence until a greedy capitalist sucks you dry.
Could Bulova remain 100% US manufactured and owned ?, not a chance, just like the vast majority of US and UK industry Kingpins they fell by their quest to be the biggest and their obligations to pay a Dividend. I think the US got a better radio.
The curve is everywhere, in Nature, Finance, Physics, Chemical reactions, the speed we live life, the saying 'those which shine brightest burn quickest ' etc etc. The moral of this essay is keep your business lean, don't push too hard let change be gentle and avoid parasites called Donald.
Best.
I recall when Hewlett-Packard was in the late seventies and eighties. Products for rich people, of course, but made with pride and great quality. But the same malaise of outsourcing, make it impossible to compete with Japan and was for me, the prelude of what US in inflicting upon itself today. Very sad and very true.
Very true, HP were a magnificent company with leading edge diagnostic kit some of which I still have. As for the malaise well that is where Boeing are but unlike Airbus, Boeing were not set up for satellite production, by out sourcing Boeing lost the most important part of efficient production and that is, 'How to not continue screwing up' Airbus like Toyota correct the problem a soon as it is found because it will bite you in the rear if you don't. Boeing for example is run by defensive lawyers protecting so called engineers who kiss the feet of the shareholders. Therefore they are incentivised to save money in the short term and pay millions in compensation !. It does not work. Japan as I mentioned in my last thesis ? practices 'Continuos improvement' "Kiazan" they learnt from the bad reception their rusty cars had in the 70's, the problem was they copied western production which at that time was on the way down. Keep it lean and honest. This chaps presentation and research is top drawer and very thought provoking. Best @@isleifoterogarcia4478
Thank you for the fact based history lesson and insight!...I guess turning America into an impoverished nation of debtors was just an unintended consequence!!...Someone should have written a book on the decline of America's post-war consumer electronics industry, but then again it’s probably better to keep it hush-hush for future generations to uncover for themselves!!!
nice
I have always enjoyed your videos, and agree with your view on politics, you are bang on the button. The same happened here in the UK. Good to look back to the days when America made some amazing radios, as shown in your videos.
same thing here in Canada... we made everything here... now very little.
@@markinnes4264I think we have to look at it in that we were lucky to have lived in a time when we had good manufacturing jobs, and produced some iconic products back those days. I cannot see them coming back soon. I think that is why we cherish these old radios, cars etc we used to make in our western countries. They reflected the countries we lived in, they had style besides function. Most products are bland these days, although they might be more reliable and cheaper to buy.
At last a sensible and truthful video.
I’ve only seen a few of your videos but just watched a couple where you mixed some social history into the mix. I can understand why you are getting some backlash from viewers but I hope that doesn’t stop you from dealing with the facts. I got out of the Navy in 1980 and started using my military electronics training working in Indianapolis which had many consumer electronics manufacturing facilities. Little by little every one of these companies started moving their facilities offshore. I eventually found that the only place my skills were in demand was working for defense contractors which was never in my plans but became necessary just to maintain a modest lifestyle.
Terrific commentary...it says a lot about how and why the USA has become so polarised economically and politically.
Polarized because of socialist/communist/marxism. Those evils are what divides
Oh please, @ernies8828 ! Evils? That's some pretty polarizing language right there! Don't you see that? You would benefit from a study of these "isms" you are so afraid of--a real study--using your own brain and hearing what the other side thinks FROM THEM. Most of what you THINK you know about these "isms" you have been fed by the establishment. They have lied to you. Learn! I dare you.
@collectornet -I have living experience and proof. Besides that, the evidence in history is overwhelming. Real history, unfortunately not taught in the public education system. This is not a debate, and I'm not here to argue with trolls like yourself. By the way, the term polarizing is a duality escapism term often used by those on the far left globalist establishment. The true establishment, connected to the fake news media you are clearly following and brainwashed by. I'm moving on. You are the one who needs to learn, not the other way around. I'm well aware of tactics these cronies use and have been exposing them for 31 years. I'm not continuing this.
@collectornet - The evidence is overwhelming that true establishment is run by globalist marxist/socialist/communist cronies.
I see. You are not "continuing this" and then you continue. And you call me a "troll," but you are not at all "divisive." I see. And since you've been kind enough to share your views here, so does everyone else.
I've always heard in order to live the American Dream, you have to move to Denmark.
The 64, 000 $ question, how do we get the correct people in office, seems like both dominant parties are the same thing, catering to the corporations shareholders rather than the greater good of our once great nation. It truly was the beginning of the end for American made products, unfortunately we’ve lost much ground to Japan China and South Korean made products. I hate to say it but my Hyundai has been pretty much problem free, just by doing basic maintenance and wear and tear.
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I agree 100%, I called it godless capitalism.
I think you have to go back to the causes of the Great Depression to understand the appeal of liberal trade policies.
You neglected to disclose how unions demanded wages higher than the skill level required, inflating the price of union made products and how unions protected poor quality products (junk), that couldn’t compete against Japanese products.
Americans stop buying American made.
I neglected no such thing. If corporations weren't all about exploiting labor, then unions wouldn't be needed. Is that the world you think we're living in? Or that EVER existed? This flat assertion that products from any particular nation are "junk" is just ignorant. All are capable of junk, and of greatness. Our job as consumers is to reward the greatness and eschew the junk. That's our role in the marketplace and it's much more effective than blanket condemnations.