US automakers lost ground to imports primarily because American cars were more expensive than foreign cars but not correspondingly better, driven by higher wages and a unique fringe benefit package including lifetime medical care amounting to $1,900 per car by 2008.

causalpending

Speaker

Howard Marks

Evidence Quote

consumers concluded that cars made in the US were more expensive than foreign cars, but not correspondingly better.

Source

More on Repealing the Laws of EconomicsOaktree Capital
Created: 6/18/2026, 2:18:14 PM

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