06/23/10 Robert Lorei
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The American manufacturing sector is losing jobs. And the service and high tech industries are not faring much better. Our guest today is Clyde Prestowitz, author of the new book THE BETRAYAL OF AMERICAN PROSPERITY: Free Market Delusions, America's Decline and How We Must Compete in the Post Dollar Era (Free Press). Prestowitz calls for a return to policies that drove America's rise to economic supremacy and world leadership from 1800 until 1950. In some ways China, he says, is copying that successful era.

Prestowitz describes how the U.S. promoted specific industries, built massive infrastructure, borrowed technology from abroad, emphasized Made in America and catching up to and overtaking Great Britain. It was this focus on economic development and on a government-business partnership in which business was the "business of America" that made the United States the richest and most powerful country the world had ever seen.

Clyde Prestowitz is the author of the critically-acclaimed books Trading Places, Rogue Nation and Three Billion New Capitalists and founder of the influential Economic Strategy Institute in Washington. He served as a lead trade negotiator for Asia in the Reagan administration, as counselor to the Secretary of Commerce, as Vice Chairman of President Clinton's Commission on Trade and Investment in the Asia-Pacific Region, as a member of the Advisory Board of the Export/Import Bank and was an advisor to the Obama campaign on economics and globalization.

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