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Essay / Research Paper Abstract
An 8 page paper discussing the superficial "failure" of the free market concerning activity relative to US technological industries. The free market system has not "failed" those industries, but rather has been prevented from operating within them. The state of the US supercomputer industry provides an example of how protectionist trade policies have stifled competition and served to keep prices within the US artificially high. That we need new industrial policy concerning high-tech is certain. Also certain is that any such new policy needs to allow high-tech industries to operate under market forces. Bibliography lists 8 sources.
Page Count:
8 pages (~225 words per page)
File: CC6_KSIndPol.doc
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Unformatted sample text from the term paper:
been in its glory throughout much of the decade of the 1990s. We have witnessed significant growth in every economy that is devoted to the concepts of the free
market, and the governments of many of the nations that appeared to be trapped forever in a command economy have tried valiantly to make the shift to the free market
system. History has shown that the free market, either fully free or in some variation, provides the most reliable route to sustainability and prosperity for a nations people.
Superficially, that same free market system appears to have failed Americas high-tech industry. However, it has not been the free market system that
has failed the industry but rather the layers of regulation surrounding it. Benefits of the Free Market System
The "evil capitalist" of the 1960s and 1970s is not so evil anymore, as even China turns to capitalism to secure its place in the world and
lift its people from abject poverty (Robinson, 1999). While capitalism is no longer purely evil, China also has not fully embraced any free market concept. Chinese companies certainly
are involved in textiles and other such industries, but it is the high-tech category on which it pins its hopes for prosperity. Still, "With the end of the Cold
War and the collapse of the Soviet empire, the market economy and democracy appear to have triumphed. Universally praised, these two central values of Western society have become the prerequisite
for any nation seeking acceptance by the international community or assistance from international financial institutions" (Attali, 1997; p. PG). Chairman and Editor-in-Chief of
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