Trouble for US Automakers

As Professor Bainbridge points out, you know it's a tough time for Ford and GM when Toyota's and Honda's chiefs offer a voluntary limit to foreign market share in the U.S.

At the annual motor show in Detroit earlier this year, Toyota President Fujio Cho and Honda Motor Co. Chief Executive Takeo Fukui said Japanese brands' expansion in the United States should not go unchecked, with Fukui volunteering that the combined share should be kept under 40 percent.

The truth is that U.S. auto manufacturers are companies that refuse to adapt its antiquated labor rules to compete globally. Meanwhile, Marxists will continue to argue for additional laws that "protect labor," even as the number of workers "protected" will continue to dwindle.