WHAT COST $10.00 JEANS?
In the wake of Delphi Corporation's bankruptcy, it is time for the United States government to get its head out of the sand and begin to address the issue of a declining American manufacturing base. In a brutally frank news conference on October 13, Robert "Steve" Miller, Chairman and CEO of Delphi, spelled the problem out in frank terms, the truth of which was as refreshing as it was disturbing. Those of us with political science backgrounds tend to be free traders. The number 1 rule in political science is free trade promotes peace and prevents wars. That was the lesson of World Wars I and II. And those of us with rudimentary backgrounds in economics believe in Adam Smith's invisible hand in matters of free enterprise. One can make the argument that free trade and free enterprise are proper approaches when dealing with Japan, Europe, possibly India, and other areas of the world. China is a different ball game. There is no way the United States can compete with China