A Study of Re-industrialization of the United States in the 1990s

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The main results of this study are summarized as the following three points :1. In the 1990s the U.S.economy has shown a very good performance. Personal income has been increased to a great degree. Budget deficits of the federal government has eliminated. It has achieved low unemployment rates and low inflation rate, at the same time. It has been, in short, experiencing a boom economy, just compared to "the longest peacetime economic growth" in the 1960s. Judging from these facts, it could be concluded that the re-industrialization of the U.S.economy has been achieved.2. The re-industrialization of the U.S economy in the 1999s in a long historical perspective can be summarized as follows :(1)The predominant competitiveness of the postwar U.S.industries was brought about by the postwar "Fax-Americana" politico-economic system. It was a system build on the basis of the postwar-corporate-system that are characterized as amatured oligopoly regime". It was based on the American-type mass pr … More oduction system and postwar traditional-type labor relations. The system also incorporated the international monetary and trade system and politico-military regime under the U.S.hegemonic power. It was established as a direct outcome of the World War II war economy, on the basis of the long historical industrial development since the 19th century. The deterioration and breakdown of such postwar-system should be the main cause of the quite serious problems of de-industriatization problems that the U.S.faced in the early 1980s.(2) The re-industrialization in the 1990s of the U.S.economy have been the results of the re-structuring and reorganization of the economy since the 1980s. Major aspects are : OReorganization of business structure of major corporations, including through active M&A.(3)Innovative changes of the traditional-type mass production system and supplier system into a "lean-production system", The transformation of the traditional-type labor relations and proliferation of the so-called "non-union-type" ones.(4)Managerial innovation of corporate organization. It can be noted that those process accelerated through active introduction of innovative information and communication technologies, such as "CALS", "Supply-Chain-Management", "Knowledge-Management Methods", and so on.. "Reagnomics" in the 1980s, characterized as "Neo-conservatism" and "De-regulation", provided a macro economic frameworks.3. The current U.S.economy, however, is increasingly showing a nature of a "Stock-market-driven Boom", as it were. The economy still continues vast trade- and current account-deficits. The polarization of income distribution is increasing. The further study of the re-industrialization of the U.S.economy in the 1990s should be necessary, just distinguishing the factors from the good performance of the firms and industries that are connected with the "Bubble" boom of the stock markets. Less