    140

    23. Paul Kennedy, The Rise and Fall of the Great Powers, p. 211.

    24. Steven Greenhouse, "Germany=#1 Exporter," New York Times, October 6, 1988, p.

    D1.

    25. Paul Kennedy, "The (Relative) Decline of America," The Atlantic, Vol 260, No. 2,

    August, 1987, p. 30.

    26. Needless to say, our addiction to debt had knocked us out of our old position as the

    world's biggest lending power.  By 1988, the country that had moved to the top of the

    lending pyramid was Japan.  (Swaminathan S. Anklesaria Aiyar, "The Power Passes,"

    Indian Express, New Delhi, reprinted in World Press Review, October, 1988, p. 55.)

    27. Mayo Mohs, "I.Q.: New Research Shows That The Japanese Outperform All Others in

    Intelligence Tests.  Are They Really Smarter?" Discover, September, 1982, p. 22.

    28.  Adam Smith's Money World, Show #408, November 2, 1987, Educational

    Broadcasting Companies.

    29. As The New York Times put it, most American companies were "doing only basic

    research, waiting for Government research grants or just monitoring the field.

    ...companies are reluctant to engage in long-term efforts that turn new technology into

    products."  Meanwhile, the Japanese had put together a consortium of 45 companies and

    plunged enthusiastically into new product development.  What held the U.S. back?

    Company heads were uninterested in projects that didn't promise immediate profits.

    Their easiest way to make a quick buck off superconductors was to land a fat,

    superconductor-related defense contract.  But, as John A. Alic,  who headed an Office of

    Technology Assessment review of superconductor commercialization, said, "It takes time

    to move technology from the military to the commercial sector, and we don't have that

    time anymore."  (Andrew Pollack, "U.S. Reported Trailing Japan In The Superconductor

    Race," New York Times, October 16, 1988, pp. 1, 12.)

    30. Ira C. Magaziner, The Silent War, Random House, N.Y., 1989, pp. 201-230.  For

    Japanese progress on commercializing solar technology, see Tatsuya Anzai, "Will the

    Market for Solar Cells Ever Heat Up?" Tokyo Business, October 1993, pp. 48-50.

    31. John Naisbitt, in Megatrends, makes a similar point.  He notes that America's growth

    rate has been lagging behind that of Japan for many years.  Over the long term, he

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