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A Dissent CHARLES L SCHULTZE
Fashionable Myths oi National Industrial Policy
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adjustment advocates agriculture allocation American industry applied R&D areas auto bailout basic billion British Leyland budget capital stock Chrysler Chrysler Corporation commercial companies comparative advantage compete costs decade deindustrialization demand dollar domestic dustrial economic growth European example expanded finance firms foreign funds Germany government's Heritage Foundation high-tech high-technology important increase indus industrial countries industrial policy industrial structure innovation interest rates international trade intervention investment Japan Japan Development Bank Japanese Japanese Industrial labor force Lester Thurow loans macroeconomic major manufacturing employment manufacturing production ment MITI national industrial policy nomic output overall percent political postwar problems productivity growth proposals protection protectionism R&D spending relative Robert Reich role share soybeans steel strategy subsidies success taxpayers textiles tion trade deficits U.S. economy U.S. industrial U.S. manufacturing U.S. trade United wages West German winners workers