It turns out that market competition punishes those firms whose costs are out of line with others. It also produces better value for consumers, as today's cars are far superior in quality to the clunkers of 1970. And it can make things better for workers, as well. The reason the UAW demanded 30-and-out in 1970 was that workers hated their assembly-line jobs. Newer manufacturing techniques, pioneered by Japanese firms, give workers more autonomy and responsibility -- and more job satisfaction. The business model of 1970 is history. But most of us are better off today.
To the disparaging "clunkers", I prefer the more affectionate moniker "land yachts".
Also the article kind of reminds me of that Yaz tune "Goodbye Seventies". Nothing like dating myself, totally.
No comments:
Post a Comment