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...economic times, however, will not solve the deep-seated problem of declining key U.S. industries. Automobiles, steel and rubber are all operating at Depression levels, plagued by aging plants, declining productivity, entrenched labor unions, restrictive Government regulations and fierce foreign competition. Highways and railroads, the vital infrastructure needed to transport goods, are badly deteriorated. In major industries like farm machinery and consumer electronics, foreign manufacturers have captured increasingly large shares of the U.S. market. America has fallen behind important world competitors, such as Japan and West Germany, in capital formation, saving and investment, spending on research and development, and growth...

Author: /time Magazine | Title: Business: Curing Ailing Industries | 7/14/1980 | See Source »

...theory does not always work out, however, in practice. In Europe, it has led to projects like the British-French Concorde, the money-losing supersonic transport that has never found a viable market. Says Otto Eckstein, president of Data Resources Inc. and a member of TIME'S Board of Economists: "It's pretty clear that if we are going to have industrial policy in the U.S., it will back losers, not winners. The whole subject of industrial policy in Washington quickly degenerates into steel...

Author: /time Magazine | Title: Business: Curing Ailing Industries | 7/14/1980 | See Source »

...case of Mozambique. That is true in Zimbabwe as well. The goal is to aim at the maximum possible cooperation, interchange, even interdependence, without getting involved with the differing political philosophies. There are some in South Africa who have been critical of even this approach-a diplomacy based on transport, food and energy. But I think the [goal of] interaction is generally accepted because South Africa obviously cannot exist in isolation...

Author: /time Magazine | Title: World: Looking to a Precarious Future | 6/30/1980 | See Source »

...real earnings jumped 12% for a blue-collar federal employee and 6.3% for unionized labor in American industry. Thus the disparity has widened between comparable military and civilian pay. Says Master Sergeant Jessie Snodgrass, who is in charge of a C-141 air transport maintenance crew at Norton Air Force Base: "I am losing two men a month. The pay is unfair. The civilians here are paid $9.30 an hour and do exactly the same job as my men who get about $2.30." Other sample disparities: a mid-career NCO earns about $14,500 annually; if he is a computer...

Author: /time Magazine | Title: Nation: Who'll Fight for America? | 6/9/1980 | See Source »

...refiners who use expensive uncontrolled domestic oil. The program, in effect, subsidizes imported oil at a time when official Government policy is to discourage imports. Though North Slope oil is domestic, the cost of building and operating the Alaska pipeline makes the crude relatively expensive to transport, so the Government treated it as something between domestic and foreign...

Author: /time Magazine | Title: Business: Why-o, Why-o Sohio? | 5/19/1980 | See Source »

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