Word: auto
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...When it comes to making the necessary sacrifices, however, should the top U.S. auto executives make a few of their own? Japanese chief executives supposedly are paid less than their American counterparts...
...school on Gore's failure. "Gore couldn't show any foot outside the South," says Clinton. "I have to, and the decision had to be made before things began to break well in New Hampshire. The Michigan primary is also on that day, but I figured Harkin, with his auto-workers support, would take that one. So Illinois was it" -- and Clinton's is the best organized operation there...
...automobile industry, "voluntary" quotas on the import of foreign vehicles have protected U.S. auto manufacturers from competition, costing consumers tens of billions of dollars and allowing the fossilization of an already stagnant industry to continue...
These same quotas have, in turn, kept Japanese auto manufacturers from competing in the U.S. market with less-established manufacturers from other countries such as South Korea and Yugoslavia. Honda and Toyota, not just G.M., Chrysler and Ford, have thus been able to keep their prices artificially high. Where the money consumers have spent "protecting" these businesses might have gone, in the free market, is anyone's guess. In any case, it would have gone to other productive enterprises, or even into savings or investment...
Protectionist voodoo dominates more than just the auto industry, however. The economic policies of the United States which protect vast portions of our markets harm U.S. consumers and workers, especially the poorest. And they harm the third world economies whose products we often exclude in the name of protecting American jobs...