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The Reckoning by David Halberstam

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28. HENRY FORD BESIEGED

EVEN BEFORE THE YOM Kippur War, the danger signs were already there. Oil was certainly part of it; almost every credible expert in the energy field was warning of the limits of American domestic oil reserves and the risks in becoming too dependent upon foreign sources. But it went beyond oil. Even as new and formidable competitors like the Japanese were preparing to make major assaults upon the American market, it was clear that the American wage scale, both for managers and workers, was seriously out of synch with the rest of the world. The gap between American and Japanese scale, for example, should have been closing as the Japanese became more prosperous. But the settlements that Detroit kept making with the UAW were ...

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