theatlantic:Overdrive: How America’s Amazing Car Recovery Explains the U.S. EconomyThere was a time,
theatlantic:Overdrive: How America’s Amazing Car Recovery Explains the U.S. EconomyThere was a time, not so long ago, when cars supposedly personified the American character. Our aggression, our style, our rugged independence. In the last 30 years, the automobile has faded slightly in the American imagination, but today the car industry does, in fact, explain the American economy.It is a surprisingly durable, fantastically productive juggernaut, whose success relies on the old, the rich, and foreign trade — and less on American workers.To begin this story, let’s appreciate the big picture. The car economy, a small but mighty sliver of American industry, has been on a roll. Since 2009, car production has nearly doubled, accounting for between 15 and 20 percent of our whole recovery.Read more. [Image: Reuters] -- source link
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