Detroit executives suffered a psychological insularity in which they assumed everyone lived as they did (large station wagons for country picnics), were mystified that anyone would want a small car, and marketed by asking 'how do you like our cars' rather than 'what kind of car would you like.'
factualpending
Speaker
Michael MungerEvidence Quote
“there's a book called the decline and fall of the u.s. automobile industry written by Brock Adams that talks about the psychology”
Source
Michael Munger on Franchising, Vertical Integration, and the Auto Industry 06/22/2009— EconTalkCreated: 6/17/2026, 10:31:26 AM
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