It is high tech, state of the art, huge, and it only employs 50 people. The author makes the following argument:
It is true that having more companies like Apple would certainly help the US.
But we would need a lot more companies like Apple to make a dent in our unemployment and inequality problems.
Why?
Because Apple also actually exemplifies some of the reasons why we have such huge unemployment and inequality problems:
- "Digital" businesses like Apple employ far fewer people (per profit) than traditional manufacturing businesses.
- Apple's 60,000+ jobs are not just in the US--they're spread around the world.
- Apple's extraordinary ~25% profit margin means that the benefits of its success accrue primarily to a relatively small group of (rich) shareholders rather than a broad base of (middle-class) employees.
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