Significant Developments in Our American Economy
Publication:
The Empire Club of Canada Addresses (Toronto, Canada), 31 Oct 1957, p. 60-77


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Significant Developments in Our American Economy


Some background to the speaker's company, American Motors. Some remarks about the differences between Canadians and Americans. Conducting business in Canada on a Canadian basis. Some management details of Kelvinator of Canada and American Motors, especially with regard to Canadians on the Board. A pro-Canadian attitude. Some international problems that Americans and Canadians both face. Three fundamental and eternal principles of which the speaker wants to remind us. Some problems internal to the United States, with discussion. The economic imbalance between Agriculture and Industry. The factor of the U.S. approach to tariffs and foreign trade. The competitive principle. Anti-Trust laws. The "Big Three" of the automobile industry: General Motors, Ford and Chrysler. Collective Bargaining. The use of union power. Conflict in the principles of national labour laws and the principles of national economic laws in the U.S. The use of monetary control. The principal cause of inflation. Wage increases. The threat of depression in the U.S. The responsibility of the Federal Government, and of the State and local governments. The "Number One National Problem" in the U.S. today of "the excess concentration of private and public economic, social and political power—the very thing that our Constitution and basic documents were designed to prevent." Leadership. The revolution in the automobile industry in America. The philosophy of the speaker's company. The need for a strong Canada to help the U.S. solve its domestic problems. Developing economic and political strength in other nations to help reduce the magnitude of the responsibility now being borne in the United States. Welcoming a strong pro-Canadian attitude in Canada.