Word: businessmen
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...Japan's success may have more to do with the homogeneity and work ethic of Japanese society than with the wisdom of its Ministry of International Trade and Industry. (Actually, the Japanese and the neoliberals seem to be going in circles: lately, delegations of Japanese businessmen have been poking around Silicon Valley, trying to learn about good old-fashioned American entrepreneurialism. And competition among factories in Japan is often fierce.) Somehow the Japanese vision of happy workers, loyally singing company songs as they program their robots, is hard to imagine in a Detroit auto plant...
...Businessmen complain that they are losing money because they cannot raise prices fast enough. The exchange rate, for example, is modified daily at 1 p.m. "We don't alter our prices accordingly, so on every sale we automatically lose between ½ % to 1½% a day," says Avram Kalisky, owner of a Jerusalem computer store. Many Israelis make ends meet by overdrawing their checking accounts between paydays, but the privilege can cost up to 19% interest a month. Others juggle their money from one account to another to avoid the costly bank charges. The inflationary cycle is self-perpetuating, since there...
...economists, it is a phenomenon outside the realm of all historical experience. To American workers and businessmen, it is a malignant force that destroys jobs and profits. To Government policymakers, it is a vexing dilemma that stirs impassioned pleas for protectionism. Gargantuan and still growing, the U.S. trade deficit has raised grave fears about the future health and wealth of the American economy...
...Businessmen see no signs of relief...
Last week a group of Japanese businessmen, headed by Sony Chairman Akio Morita, met with President Reagan to protest the unitary tax, which it considers arbitrary and unfair...