RJBJr Wrote:
Nov 15, 2012 6:45 AM
The fundamental problem in Japan is their manufacturing philosophy. Their rise was bsed on W Edwards Deming's quality systems. Then the Toyota Production System but the brakes on Japan's growth. Contrary to the experts' opinion, TPS prevents the kind of innovation needed to compete with lower-wage countries. US manufacturers adopted the Toyota system - a BIG mistake. As the Japanese lost jobs to the Chinese, we did too. Our borrowing is replacing the revenue lost from this basic mistake made by our manufacturing execs ever since.