The Price of a Shirt

Graduate unemployment was high, and the prospect of steady employment looked modest. Lin, an economics graduate, did not abandon her pursuit. With a shortage of skilled talent, engineers were in demand, so she endeavored to qualify for a promising profession. Before each deadline, she submitted forms to employers recruiting personnel. Then a textile corporation's consultant called: "Hi, Lin. Your appointment is confirmed." The salary was moderate, yet better than the wage of her old occupation as a waiter.

Lin commuted to the suburb mill; the fare ate her allowance. She was assigned to boost productivity in its labor-intensive manufacture. Her metric was efficiency: how many shirts workers could assemble per hour. The warehouse was full of goods awaiting delivery, and transport of imports was slow. She consulted the drivers, switched the mode of transport, and delivery resumed. Her accurate, logical report had striking clarity, and the manager deemed it worthwhile.

The firm sold cheap commodities, and rising costs squeezed its margin. Rivals competed with stiff intensity in a competitive market. Lin proposed an elegant premium label to appeal to wealthy buyers and cater to their taste for luxury. Managers criticized the costly scheme as a so-called dream. Nevertheless, a merchant who ran retail outlets bid for the line. They bargained and agreed to split the expense. A rival's acquisition of the outlets collapsed, so no monopoly formed.

Then inflation arrived. The price index rose, the currency fluctuated, and monetary policy grew tight. Shares dipped, and a crash brought about a scare. Consumption fell as families cut expenditure on each purchase. Facing a deficit, the government brought in a subsidy for mills and a lower levy on imports. For all the tension, Lin expected recovery to accelerate. Under capitalism, she said, boom and squeeze come in sequence; prosperity and expansion return to cautious, productive and profitable firms.

At home, Lin had to make ends meet. Housing was costly; she paid rent for a small room and kept each receipt in her wallet. She owed her parents a large sum and had few savings, but resisted the lottery, a false hope of fortune. With a quarterly bonus, paid as reward and incentive, she invested and insured her one valuable asset, an old auto. Her landlord, who rented out three flats, was better off; ownership was his fortune.

Lin's boss, Zhou, was an entrepreneur who grew up in poverty. He sponsored a scheme to foster talent and donated money to relieve poor families. He financed it without diverting wage funds. A shrewd operator in the domain of commerce, he attached importance to people. He paid retired workers fair compensation and managed the float of each payment cautiously. Unlike rivals, he was tolerant of mistakes, so staff were all the more loyal.

Soon Lin faced a dilemma. As an alternative, a rival offered a permanent post with higher compensation and prestige, while her casual contract was due to renew. The offer was ambiguous: implicit terms would bind her to excessive hours. She contemplated it, calculating costs on her calendar. Money was only one dimension of a job. Her inference: the move would go against her values. A tendency to chase money results in stress, and such hours would exhaust her. Contrary to friends' advice, odd as it seemed, she declined.

Instead, she cooperated with designers, working in conjunction with sales staff on a durable fabric with an invisible coating. The project revolved around concrete, tangible goals. They simplified the process, classified each task, and aligned every step. Over a three-month span they overcame a deficiency of cotton and accomplished the work. The fabric was exceptional: its peculiar, mysterious shine flattered every figure, and buyers found it unusual and exciting.

At the launch, an opponent interrupted her talk and called the data false, but Lin offered reliable proof, and a reporter verified each figure as people gazed at her. A news outlet portrayed her as a rising star; she said success resembled luck, not wisdom, and was earned in part by her team. Her inner satisfaction came from the work, not comfort. She grasped the lesson: profit correlates with trust. Desperate firms that incur debt are subject to collapse, regardless of brand.

The fabric met with immediate praise and aroused interest across the realm of fashion. Furthermore, Zhou pledged to adhere to fair rules in place and exclude superfluous costs. Each rule embodied his inherent belief that a firm is dependent on its people. Wages vary and prices shrink; a reasonable firm interprets change calmly. When Lin asked for a bigger stake in the firm, Zhou obliged. Through concentration and verbal skill, she made her way to the top, and will forever possess that lesson.