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Overviewswollen with deutschemarks and yen newly created to purchase unwanted dollars from the markets. When the Bundesbank and the Bank of Japan began to raise their interest rates to slow domestic monetary expansion, the fabric of international monetary cooperation began to unravel. Amid charge and counter-charge by disgruntled fmance ministers, the dollar dropped further and interest rates jumped upward, leading to panic in the stock market on Black Monday. Fortunately, a steady hand and generous supply of credit from the Federal Reserve System prevented massive bankruptcies among Wall Street brokerage houses and a collapse of the credit system. But the world-wide reverberations of the Wall Street crash exposed the underlying weaknesses of an economy based on foreign borrowing for all to see. Furthermore, the banking system is saddled with mountains of bad debts from the Third World and depressed parts of the American economy. A new Administration entering office in 1989 must deal with these problems, among others. Businesses and state and local governments need to know whether to focus their efforts on tax policy, investment, and improvements in education and worker training, or lobbying for protection from imports. The papers in this volume were chosen to explain the causes of present competitive problems in American industry and the factors that can lead to their gradual solution. Full Product DetailsAuthor: Stanley W. BlackPublisher: Springer Imprint: Springer Edition: 1989 ed. Dimensions: Width: 15.60cm , Height: 1.10cm , Length: 23.40cm Weight: 0.940kg ISBN: 9780792390015ISBN 10: 0792390016 Pages: 158 Publication Date: 31 August 1989 Audience: College/higher education , Professional and scholarly , Postgraduate, Research & Scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: In Print  This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of Contents1 Economic Background and Introduction to the Papers.- 2 The U.S. Basic Industries in the 1980s: Can Fiscal Policies Explain Their Changing Competitive Position?.- Comment.- 3 Policy Implications of the Slowdown in U.S. Productivity Growth.- Comment.- 4 The Tax Reform Act of 1986 and Economic Growth.- Comment.- 5 A Businessman’s Perspective on Competitiveness.ReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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