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This book, originally published in 1994, explores the effects of federal policies on the US auto industry in the 1970s and 80s which were designed to save jobs and help the domestic industry become more competitive. The author develops a new model based on modern oliopoly theory to estimate the effects of the voluntary Restraint Agreements (which limited Japanese imports) on the US auto market. The results demonstrate that VRAs caused price increases which adversely affected the comptitiveness of US producers. On the eve of a new Trump administration, and the likelihood of new restrictions on imports to boost US manufacturing, this book has particular enduring relevance.
This book, originally published in 1994, explores the effects of federal policies on the US auto industry in the 1970s and 80s which were designed to save jobs and help the domestic industry become more competitive. The author develops a new model based on modern oliopoly theory to estimate the effects of the voluntary Restraint Agreements (which limited Japanese imports) on the US auto market. The results demonstrate that VRAs caused price increases which adversely affected the comptitiveness of US producers. On the eve of a new Trump administration, and the likelihood of new restrictions on imports to boost US manufacturing, this book has particular enduring relevance.
This collection of essays offers critical perspectives on current issues in the international economy. Divided into four parts, U.S. Trade Policy and Global Growth discusses managed trade and international interdependence, the effect of trade on domestic wages and employment, the costs and benefits of trade protection, and likely effects of NAFTA. The collection also addresses the U.S. trade deficit and presents a Keynesian proposal for international monetary reform. Part IV focuses on issues facing developing countries in the areas of trade, industrial, and financial policy. Rejecting the dogma that pure free-market policies should be accepted as articles of religious faith, in either international trade or domestic policy, the contributors search for trade and macro policies that can achieve balanced growth with high employment and an equitable distribution of income in both the United States and the rest of the world.
"Timely reading for general readers as well as students and faculty". -- Choice "EPI has assembled some of the best minds in the country to offer sound solutions to the problems our country faces". -- Richard Gephardt
To its critics, the automobile is a voracious consumer of irreplaceable energy resources, a leading polluter of the environment, and a destroyer of cohesive communities. The most outspoken opponents call for greater regulations and restrictions to ultimately replace the automobile as the country's primary means of transportation. But their proposals all ignore one simple fact: Americans love their cars! Millions of citizens have made the automobile the most successful method of mass transportation ever developed, and they are not about to give up the personal mobility it offers. This book presents the controversial view that, for the vast majority of Americans, the automobile is not the problem, but the solution to transportation needs. While acknowledging the automobile's significant drawbacks, the author refutes much of the shrill rhetoric and doomsday predictions of its opponents. He takes a skeptical look at the major policy initiatives to tax, regulate, and provide alternatives to the automobile, pointing out that any policies designed to remove Americans from their cars without offering them a superior means of mobility are "worse than useless" and doomed to failure. The book offers suggestions and guidelines for politically realistic initiatives that preserve the benefits of the automobile while building public support for policies that will reduce its negative effects on energy use and the environment.