But didn't they protect their car industries in the 1950's and 1960's at least?
In any case, I think your response fits my point. The technology that produced the qualities that the car market (especially the American market) demanded were mostly in the hands of American companies and it took a long time for both the qualities demanded to change and for the technology to become generalized. As Howard Botwinick argues in his book on labor markets, there were high barriers to entry that became high barriers to exit over the industrial cycle. -- -Nathan Tankus ----------------------------------------------------------------------------------------------------------------------------------------------- _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
