Kai Yang Yap writes:*
One of the revolutionizing innovations in the tech industry is the line of iPhone by Apple. This product has generated throngs of followers who religiously purchase every new product that is introduced. The purpose of this blog post is to highlight a few shadow prices that were not taken into account by consumers when making a decision to purchase an iPhone.
Coltan is a mineral that can be found in every iPhones as its unique semi-conductor attributes allows storing charges. It is also recognized as a blood mineral as it has funded civil wars which has killed 5 million people and resulted in rape of 300, 000 women in the past 15 years.
IPhones are produced by one of the largest manufacturing companies, Foxconn. There have been many reported controversies regarding the work conditions, child labor and even workers committing suicide.
Bottom Line: This post isn’t to satisfy some unfulfilled vendetta against the usage of technology. It is important that we as consumers are aware of hidden external cost when making a decision participate in any transactions.
* These guest posts are from students in my resource economics class at Simon Fraser University. Please leave feedback on their logic, ideas and style and suggestions of how to improve.