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ECO100Y1 (438)
Jack Carr (32)
Lecture

US and Japan Pt.2

5 Pages
124 Views

Department
Economics
Course Code
ECO100Y1
Professor
Jack Carr

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Description
Feb 24, 2008 US household savings rate rising -if savingZ]Z]Z]L272]ZL]}L}Z}ZZ}}2}[ZL]L2Z: -in micro theory, consumption depends on expected income, household wealth factor is dominant -contest between 2 types of capitalism, challenge of US was not met, research and development outside }[email protected]]LZ]LD^[email protected]^2}[o}:L }L2]L2}LD^ -}[]L[o}o]LZ}]L2]LZ]Z K]o] -still thought large-scale industry is bad -Every major sector of US did not spend on development, long wave was extended, recovery might not come for a few years. -automobile and steel are still inefficient industries today, huge labor force in US, actions suggested by a whole groups of economists, a new dimension ]LZ] Z2}[L]LZ L}l}2Z72}[ have at least some participation -IT sector was becoming more aggressive(entrepreneurial activities financed by private sector), other Z }ZZ]ooL}2}]L2ZK Z7L]L Z]L2}[L]L2ZZL}L-military -no leadership towards new direction for automobiles -Bailout is only a short-LZ}o]}L7Lo}L2L]LZ]oZ2Z}lZ72}[] ]]}L with industry, need to refuse bailouts to management team or senior level employees of companies seeking bailout Z>z[Z-Schumpeter, Kondratieff cycle -^]]}L ]L2D^]ZZ ]o]LZZ]Z}7^]o] }LooLZ] Z }]LD^ L[ }K]Z Japan and the Far East. Is individualism in US fatal flaw, (maximization of consumer satisfaction, maximization of corporate profits) -In effort to stop rise of the US dollar relative to Yen or Deutch Mark. Thought US dollar was strong and appreciate further to the end of the decade because it reflected the strength of US economy, hurts US export, trade deficit in 1980-85 -9o }}2ZD^}oo}L}}ZKooZzL7Z]oo]L[Z}o] ] -US Super computers required Japanese semi-conductors, used in space, military -Priority now in Japan targets production of super computer Goal of economy in US -K]K]Z]Z ]}L} }LZKLZ]ZK]L]KK2}[]LL]}L -US wants Japan to open its doors with no specific strategy -Japanese use aluminum in baseball bats in Japan, several crates of bats from US arrived in Japan harbor, Jap had a ruling that anything dangerous have to be inspected, protectionism in delaying transfer of imported goods for use www.notesolution.com
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