ABSTRACT
The posture of the US government is based on ideology rather than on the recognition that the United States is no longer able either to bring others to the negotiating table or to set the tone for negotiations, much less to dictate the provisions of any international agreement. Although both management and government have been aware of the international pressures, their responses have been inadequate, misdirected, or nonexistent. Since most executives and governments recognize the benefits of competition, the issue of how to achieve it rests on the formation and implementation of appropriate rules. The continuation of the substantial government budget deficit is evidence of the fact that the United States is paying little attention to the internationalization of the economy, since it continues to raise interest rates above what they would otherwise be if they reflected only commercial and financial supply and demand for capital. The most pervasive guidepost of US corporate strategies is “the bottom line,” meaning profit.
