Globalization

Mike Smitka, Economics, Washington & Lee Univ

i'm pondering the nature of globalization in the auto industry. In addition, suppliers are realigning their businesses, with for example JCI and Visteon selling their interior businesses to Yanfeng, Visteon selling their air conditioning business to Halla Climate Control (now Hanon), and Visteon buying Yanfeng's share in a vehicle electronics joint venture. Then there are OEMs: what was the progression of cross-border integration in Europe, as intra-European restrictions were gradually lowered following the formation of the Common Market. First I'll ponder, the blog, then write ...

Radio Show: Looking Backward, Looking Forward

Mike Smitka

Professor of Economics, Washington and Lee University

WREL Lexington (VA) is changing its format, so today is my last regular radio show. So looking back, what have we talked about, and what then should we think about moving forward? First and foremost there's the slow but steady growth of the US economy. Because most observers are parochial, unfamiliar with the experience of other countries and of our own history, that slowness continues to be treated as a surprise. More in a moment. Looking forward I see four long-run economic issues facing the US: education, infrastructure, population aging and fiscal health. While it's a bit of a straw man, can we make America great again? More properly, will our children face a future of falling incomes and rising social tensions? I fear the answer is "no." I don't want to end my regular radio presence without a reminder that I'm a practitioner of the dismal science.