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From: "Marketplace" <mail@americanpublicmediagroup.org>
Date: 21 May 2014 15:54:00 -0400
To: <mainandwall@aol.com>
ReplyTo: "American Public Media Group" <mail@americanpublicmediagroup.org>
Subject: How much would an iPhone cost if it were made entirely in the U.S.?
| |  | | May 21, 2014 | | How much would an iPhone cost if it were made entirely in the U.S.? At the moment, the iPhone 5 costs between $650 - $850 retail. iPhones are mostly manufactured and assembled in China, famously by the company Foxconn. And Apple pays around $5 per iPhone for labor. Would the higher labor costs in the U.S. drive up the price that much? The latest answer in our "I've Always Wondered" series may be more complicated than you think. And, Jim Jacoby wants to create an American Renaissance of design. He has a plan to give blank checks to master craftsmen, and give them the freedom and the budget to build their dream project. His first commission, a groundbreaking motorcycle by renowned designer JT Nesbitt, is nearly complete. It's sort of a patronage system loosely modeled after the Medici, the wealthy banking family that gave birth to the Italian Renaissance. This new system is designed to remove the drive for profit from the act of designing. The hope is that through this process, breakthroughs in design and engineering emerge. And those breakthroughs will lead to business opportunities. | | | | THE NUMBERS as of 2:35 P.M. EDT
DOW +155.48 (+0.95%)  ; NASDAQ +33.92 (+0.83%) S&P 500 +14.30 (+0.76%)
| Mid-day Update |  | | | | Chairman of the New York Fed William Dudley has spoken out saying his Federal Reserve needs to be especially careful about real estate at the dicey moment when interest rates start going up as a result of their stimulus cutbacks. To help us with this, we turn to Philip Swagel an economist at the University of Maryland who used to work at the Fed and the White House. And from our broadcast in London this week, we visit London's Borough Market, where's there's been food for sale for an even one-thousand years. Plus, some good news for London this week: the British capital came top in Price Waterhouse Cooper's sixth annual league table of international cities. London was rated the world's foremost "economic powerhouse and centre for culture, education and innovation." The accolade should go some way to soothe this city's wounded pride: London recently lost its number one slot in the prestigious Global Financial Centre Index. | | | | | | |
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