U.S. National Security and Defense Capability

THE DECLINE IN THE US INDUSTRIAL BASE

One indicator of decline in the US industrial base is the deterioration of productivity growth in the American economy.1

1 2At the beginning of this discussion on productivity, it should be understood that what is deteriorating with respect to American productivity is not the level of output, or even growth in the level of output, but, rather, the rate of growth in the level of output. A deterioration in

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tax break on the one hand, and which, by giving consumers a tax break, promotes increased consumption on the other hand. The United States government has protected domestic industries against foreign competition with both formal policies and actions which often appear to contradict stated government policy. Examples of import protection actions by the Reagan Administration were the semiconductor agreement (which established price controls on imported Japanese semiconductors), and the voluntary automobile quotas (which limited the level of imports of Japanese automobiles). In each instance, these actions were counter to the freetrade stance of the Reagan Administration. They were, however, a part of an American industrial policy. 8 The United States government, in conjunction with state governments, also provides worker training programs which benefit American industry. Further, the government provides major funding for research and development in the United States. The major part of this funding is provided through Department of Defense programs, the Strategic Defense Initiative, and the space program. In the context of exports, the American government pro vides limited export financing for American exporti
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Approximate Word count = 4010
Approximate Pages = 16 (250 words per page)

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