AS an economic historian, I appreciate what manufacturing has contributed to the United States. It was the engine of growth that allowed us to win two world wars and provided millions of families with a ticket to the middle class. But public policy needs to go beyond sentiment and history. It should be based on hard evidence of market failures, and reliable data on the proposals’ impact on jobs and income inequality. So far, a persuasive case for a manufacturing policy remains to be made, while that for many other economic policies is well established.

Christina Romer, Do Manufacturers Need Special Treatment? - Economic View - NYTimes.com

I like it when people leave an administration and return to their prior honesty and candor.

Source: The New York Times

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  1. jeffmiller posted this
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