The small cars were appropriate for the Japanese economy, but the quality increased faster. Reagan imposed protection for the US on the Japanese.
On Mon, Nov 19, 2012 at 6:26 PM, nathan tankus <[email protected]> wrote: > What about socially necessary labor time? I can paint something onto a > canvas in 3 minutes, that doesn't mean I have a competitive advantage > in the art business. > > I was under the impression that because of the technological > inferiority and the smallness of the cars they failed in the American > car market and needs protectionism to build them up into fierce > competitors (and to achieve economies of scale as European and > Japanese incomes grew and thus could shift what was "socially > necessary). Is that factually inaccurate? > > -- > -Nathan Tankus > ----------------------------------------------------------------------------------------------------------------------------------------------- > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l -- Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
