%0 Journal Article
%T Cons¨¦quence de la crise financi¨¨re ou crise d¡¯une forme de capitalisme : la faillite des Big Three Consequence of the financial crisis or crisis of a type of capitalism: The bankruptcy of the Big Three Consecuencia de la crisis financiera o crisis de una forma de capitalismo : la quiebra de las   Big Three
%A Michel Freyssenet
%A Bruno Jetin
%J Revue de la R¨¦gulation : Capitalisme, Institutions, Pouvoirs
%D 2011
%I Association Recherche & R¨¦gulation
%X Les constructeurs automobiles am¨¦ricains n¡¯ont pas ¨¦t¨¦ les victimes malheureuses de la crise financi¨¨re qui les aurait emp¨ºch¨¦s de se redresser ¨¤ temps. L¡¯aggravation des in¨¦galit¨¦s sociales ¨¤ partir des ann¨¦es 1980 a fait ¨¦merger notamment une demande de v¨¦hicules on¨¦reux, les light-trucks. Elle s¡¯est r¨¦v¨¦l¨¦e tr¨¨s rentable pour GM, Ford et Chrysler et leur a permis de prosp¨¦rer tout au long des ann¨¦es 1990 malgr¨¦ la concurrence des constructeurs japonais. L¡¯externalisation d¡¯une part croissante de la production et la diversification dans les services devait en outre renforcer la profitabilit¨¦. L¡¯¨¦clatement de la bulle internet en 2000 r¨¦v¨¦la le mirage de la   nouvelle ¨¦conomie   et l¡¯externalisation, combin¨¦e aux engagements de l¡¯entreprise pour assurer les pensions de retraite, entra na une hausse inexorable des co ts salariaux des Big Three et une baisse des profits d¨¨s 2005. L¡¯accroissement de l¡¯endettement des m¨¦nages maintint artificiellement les ventes jusqu¡¯au d¨¦nouement final. Les Big Three ont directement contribu¨¦ ¨¤ ce que la crise advienne, en adh¨¦rant ¨¤ la   nouvelle ¨¦conomie   et en mettant en  uvre ses recettes. La question est de savoir s¡¯ils avaient une alternative. American carmakers were not unfortunate victims of some financial crisis that got in the way of their recovery. The aggravation of the social inequalities in United States as from the years 1980 gave rise to a demand for expensive vehicles, the light-trucks. It appeared very profitable for GM, Ford and Chrysler and their allowed to thrive, in spite of the competition of the Japanese constructors. The increasing outsourcing of the production and the diversification in the services were to reinforce profitability. The bursting of Internet bubble in 2000 revealed the mirage of the ¡°new economy¡±. The outsourcing combined with engagements of the company to ensure the retirement pensions involved an inexorable rise of the salary costs of Big Three and a fall of the profits since 2005. The continuation of the running into debt of the households artificially maintained the sales until the final outcome. The Big Three were direct contributors to their own problems, first and foremost through their adherence to ¡°new economy¡± precepts and efforts to implement its recipes. The question is whether they ever had an alternative. Los constructores de autom¨®viles americanos no han sido las v¨ªctimas desgraciadas de una crisis financiera que les habr¨ªa impedido de recuperarse a tiempo. La agravaci¨®n de las desigualdades sociales a partir de los a os 1980 hizo emerger una demanda de veh¨ªculos on
%K deregulation
%K growth regime
%K profit strategy
%K inequalities
%K automobile
%K crisis
%K finance
%K regulations
%K United States
%K crisis
%K r¨¦gimen de crecimiento
%K estrategia de ganancias
%K finanzas
%K regulaci¨®n
%K desigualdades
%K desregulaci¨®n
%K Estados Unidos
%K r¨¦gime de croissance
%K r¨¦gulation
%K strat¨¦gie de profit
%K in¨¦galit¨¦s
%K automobile
%K crise
%K finance
%K d¨¦r¨¦gulation
%K ¨¦tats-Unis
%K O51 - U.S.
%K Canada
%K L1 - Market Structure
%K Firm Strategy
%K and Market Performance
%K L62 - Automobiles
%K Other Transportation
%U http://regulation.revues.org/9233