The Positive Sum Strategy Harnessing Technology for Economic Growth (1986) / Chapter Skim
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Global Competition--The New Reality: Results of the President's Commission on Industrial Competitiveness
Global Competition--The New Reality: Results of the President's Commission on Industrial Competitiveness
Pages 501-510
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Emphasizing He urgency of competitive renewal in this country is not an easy task in the middle of the strongest economic expansion of recent history. For the past 18 months I have been He chairman of He President's Commission on Industrial Compenhveness.
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The Japanese productivity growth rate is five times greater than our own. In absolute terms, Japan is more productive than American industry in autos, steel, and electrical "President's Commission on Industrial Competitiveness, Global Competition: The New Reality, John A
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Second, real hourly wages in the business sector have remained virtually stagnant since 1973, and they have actually declined in the past five years. Recall that competitiveness was defined above as our ability to succeed in world markets while maintaining our standard of living.
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As part of the effort to create technology, the commission called for permanent tax credits to stimulate more industry research and development. Tax credits are preferable to direct government project oversight, because they allow the market to determine which technologies have commercial potential.
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In this regard, we need to review and reform our patent laws, better protect the scientific information that American business provides to government, and insist that our trading partners—especially the newly industrializing countries—provide better protection, too. According to the International Trade Commission, counterfeiting alone cost American business $8 billion in sales and 131,000 jobs in 1984.
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competitiveness. Among the criteria are the goals of more neural tax treatment for different industries and kinds of assets and encouraging investment, such as by indexing inflation for calculations of capital gains and allowing fuller deductions for capital losses on individual income tax returns.
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That is why the commission advocated broader use of such incentives as profit sharing and employee stockpurchase programs. International Trade The subject of international trade both He way we approach it here in the United States and the global trading environment that American business operates in raises tough issues.
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And we should get our trading partners especially the newly industrializing countries to commit to its rules. SUMMARY I began by saying that our ability to compete in world markets depends on decisions made by both public servants and private citizens in four basic areas, and I have sketched some actions we can take to attain key goals in each of them.
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If it accomplishes just that makes improved competitiveness the standard by which public and private leaders weigh He decisions they make daily then the Commission on Industrial Competitiveness will have accomplished its goal. All of us face a new reality global competition.
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