Out of Business

Robert Reich: The Year Washington Became "Business Friendly": "Researchers from the Asian Development Bank Institute have dissected an iPhone whose wholesale price is around $179.00 to determine where the money actually goes.

Some shows up in Apple's profits, which are soaring.

About $61 of the $179 price goes to Japanese workers who make key iPhone components, $30 to German workers who supply other pieces, and $23 to South Korean workers who provide still others. Around $6 goes to the Chinese workers who assemble it. Most of the rest goes to workers elsewhere around the globe who make other bits. Only about $11 of that iPhone goes to American workers, mostly researchers and designers. ..."

"...2010 was the year Washington became even more "business friendly." The result has been more and better jobs -- but not in America."