How to Meet Foreign Competition
THE swift rise of competition abroad for U.S. business and the rumblings about recession at home lend a new urgency to a prime question: What must the U.S. do to create more jobs at home, cut costs, and compete more effectively abroad? Most economists and businessmen, along with some politicians, think that a key, direct way is to change the depreciation laws on new plants and equipment. They would permit businessmen to write off costs faster, thus giving them a big incentive to spend on old plants to improve...
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