Selling Our Security: The Erosion of America's Assets

As American manufacturers of critical technologies (e.g., semiconductors, robotics, energy, biotechnology) are increasingly taken over by foreign investors, the U.S. is in grave danger of losing its technological edge and becoming dependent on overseas suppliers, assert the authors of Buying into America (he is a New York Times Washington correspondent; she is a professor of public administration at George Washington University). Indicting current policies as shortsighted, they clearly demonstrate through case studies that ownership matters crucially in the areas of product design, engineering and ``intellectual property.'' Faulting the Bush administration for inertia, the Tolchins spell out an agenda to preserve America's critical technologies, including tougher trade policies, subsidies to jeopardized firms and a stronger government role in protecting and integrating critical industries. This hard-hitting report on an issue of vital interest to American prosperity and security will surely stir debate. (Sept.)