But what would become of mass production and its system of financial expansion if technical perfection, durability, social efficiency, and human satisfaction were the guiding aims. The very conditions for current financial success - constantly expanding production and replacement - works against these ends. To ensure the rapid absorption of its immense productivity, megatechnics resorts to a score of different devices: consumer credit, installment buying, multiple packaging, non-functional designs, meretricious novelties, shoddy materials, defective workmanship, built-in fragility, or forced obsolescence through frequent arbitrary changes of fashion. Without constant enticement and inveiglement by advertising, production would slow down and level off to normal replacement demand. Otherwise many products could reach a plateau of efficient design which would call for only minimal changes from year to year.
Lewis Mumford
Related topics
absorption
advertising
arbitrary
buying
call
constant
consumer
credit
current
defective
demand
design
different
durability
efficiency
efficient
enticement
expansion
fashion
fragility
frequent
guiding
human
immense
installment
inveiglement
level
mass
multiple
normal
obsolescence
off
perfection
plateau
production
productivity
rapid
reach
replacement
satisfaction
score
shoddy
slow
social
success
system
technical
workmanship
year
works
packaging
conditions
built-in
minimal
ends
megatechnics
devices
Related quotes
The most immediate result of this unbalanced specialisation has been that to-day, when there are more "scientists" than ever, there are much less "cultured" men than, for example, about 1750. And the worst is that with these turnspits of science not even the real progress of science itself is assured. For science needs from time to time, as a necessary regulator of its own advance, a labour of reconstitution, and, as I have said, this demands an effort towards unification, which grows more and more difficult, involving, as it does, ever-vaster regions of the world of knowledge. Newton was able to found his system of physics without knowing much philosophy, but Einstein needed to saturate himself with Kant and Mach before he could reach his own keen synthesis. Kant and Mach - the names are mere symbols of the enormous mass of philosophic and psychological thought which has influenced Einstein.
José Ortega y Gasset
In this world, as in our own, nearly all the chief means of production, nearly all the land, mines, factories, railways, ships, were controlled for private profit by a small minority of the population. These privileged individuals were able to force the masses to work for them on pain of starvation. The tragic farce inherent in such a system was already approaching. The owners directed the energy of the workers increasingly toward the production of more means of production rather than to the fulfilment of the needs of individual life. For machinery might bring profit to the owners; bread would not. With the increasing competition of machine with machine, profits declined, and therefore wages, and therefore effective demand for goods. Marketless products were destroyed, though bellies were unfed and backs unclad. Unemployment, disorder, and stern repression increased as the economic system disintegrated. A familiar story!
Olaf Stapledon
The theories that I (and others) helped develop explained why unfettered markets often not only do not lead to social justice, but do not even produce efficient outcomes. Interestingly, there has been no intellectual challenge to the refutation of Adam Smith's invisible hand: individuals and firms, in the pursuit of their self-interest, are not necessarily, or in general, led as if by an invisible hand, to economic efficiency. The only question that has been raised concerns the ability of government to remedy the deficiencies of the market. Within academia, a significant fraction of economists are involved with developing and expanding on the ideas of imperfect information (and imperfect markets) that I explored. For instance, Edmund Phelps, this year's Nobel Prize winner, belongs to this "school" of thought. But in political discourse, simplistic "market fundamentalism” continues to exert enormous influence.
Joseph Stiglitz