ABSTRACT
Two of the most frequently cited reasons for the decline of U.S. international competitiveness are the low rate of investment and the shortsightedness of U.S. industry, both of which can be ascribed to the high cost of capital prevailing in the United States. This country no longer possesses the overwhelming advantages it had at the end of World War II, and we can no longer compete successfully while handicapped by a cost of capital that is substantially higher than that of other nations.
