Word: scrapheap
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Dates: during 1920-1929
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...Every motor car would be headed for the scrapheap; every loudspeaker would be silent; every telephone would 'go dead'; every electric light would go out. The gloveless surgeon would be unable to perform his life-saving operations. . . . Contemporary man could not get along. . . . Life would be devoid of half its conveniences and comforts...
...Klein also accuses New England industry of narrowness. While studying 350 firms there, he found that only one had a business analyst. Like pre-War Europe this section has disastrous overconfidence in past methods and trade processes, whereas U. S. "industry has grown precisely because it has the highest scrapheap in the world." The machinery in one New England textile factory averaged 23 years in age. One shoe factory kept making high buttoned shoes because "Uncle Ezra," founder, had done so. Industries should balance their manufacturing schedules to run evenly the year through. They should diversify products.* Above all they...