michigan s industrial structure and competitive advantage how did we get into this pickle where do go from here prepared by george a fulton donald r grimes institute of labor relations research seminar in quantitative economics university for an agenda setting conference the economic issues facing march 14 2006 table contents introduction 1 cyclical behavior economy 1956 2005 3 5 dependence on auto industry 6 price cost squeeze 9 framework prospects based 16 detail knowledge industries 21 high tech 24 tourist oriented 27 assets 28 higher education system 30 natural environment financial capital 33 linkage between 35 conclusion 39 references 41 professor