Republican administration.
The thesis of this research is that the long term elimina tion of the American trade deficit is dependent upon the devel opment of increased competitiveness on the part of American 3industry in the context of quality, as opposed to an increased competitiveness based upon cost reduction programs in manufac turing, and cost reduction achieved through the devaluation of the dollar. The contention of this research is that each of these latter factors manufacturing cost reductions, and dollar devaluation will lead only to short term improvements in com petitiveness. Karen Pennar (1988, 100) observed that someone else or something else
. . . was always to blame: The big spenders in Congress had let the budget deficit get too large. The Federal Reserve Board had cranked interest rates up too far. The dollar had soared too high. The Japanese were dumping prod
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