In This Review

In The Shadow Of The Rising Sun: The Political Roots Of American Economic Decline
In The Shadow Of The Rising Sun: The Political Roots Of American Economic Decline
By William S. Dietrich
Penn State Press, 1991, 343 pp.

This book provides a fair and comprehensive analysis of America's economic problem and forcefully contends that the problem can be solved only by adopting an industrial policy. The book explains what industrial policy is, how Japan used it to overtake the United States in many leading technologies and what the dangers are of continuing the present course of economic drift while clinging to "obsolete beliefs" of laissez-faire and so-called free trade. The author is president of a steel corporation and a recent Ph.D. in political science and he writes from a unique experience and perspective. For anyone seeking to get a handle on the debate over America's economic decline, this volume should be read with care.