Word: netschert
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Dates: during 1969-1969
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Such glum speculation about electric cars is brightly optimistic compared with the realistic analysis of Economist Bruce C. Netschert, director of National Economic Research Associates. He bluntly points out that the U.S. economy is geared directly to the mighty internal-combustion engine. Conversion of the nation's 101 million vehicles to electricity, even if possible, would cause nothing less than an economic trauma...
...thing, since electric cars tend to be extremely durable, "planned obsolescence" would itself become obsolete. For another, the new cars, to minimize the drain on their batteries, would have to be light, small and free of many of today's high-profit accessories. As for the oil industry, Netschert figures that it would lose fully half its market...
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