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You Are Here: Home > Articles > Contributors > A Cancer on the Big Three: The $29/Hr. Pay Gap

A Cancer on the Big Three: The $29/Hr. Pay Gap
Nov 14, 2008

Dr. Mark J. Perry

CARPE DIEM
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Why is GM (and Ford and Chrysler) seeking taxpayer subsidies when Toyota, Honda, Nissan, Kia, BMW, Daimler, Hyundai and other foreign nameplate producers, who are facing the same contracting demand and credit crunch quietly weathering the storm, are not? Because the latter have costs structures that haven’t been made obsolete and uneconomic by ludicrous union demands (see chart above, data here). And, of course, they make cars that Americans want to buy.

~Dan Ikenson, Associate Director of Cato Institute's Center for Trade Policy Studies