Concrete Economics: The Hamilton Approach to Economic Growth and Policy Stephen S. Cohen and J. Bradford DeLong Harvard Business Press Review, 2016 xi United States. From its very beginning, the United States again and again enacted policies to shift its economy onto a new growth direction. These redirections have
The book is animated by a controlling vision. A successful economy depends on innovative entrepreneurs who are willing to take large risks in return for the chance migrates to talented entrepreneurs eager to pursue profitable opportunities. Innovations like the automobile, computer, and online retail services destroy jobs, though, he makes what seems to me an incorrect claim; but fortunately, his main policy prescription can be restated in a better way. Tamny rightly calls for sound
in terms of changes at the margin. Which people were displaced by which market innovations? How many of those who were displaced found other jobs, and under what are vital to a vibrant manufacturing base: infrastructure, manufacturing and R&D innovation, and related forms of education.” Again, he fails to ask what the benefits Smith’s view of the bad effects of the division of labor yet also favors a policy that will increase assembly line work. Or is manufacturing supposed to take
well-off countries, they need increases in investment also. Piketty’s confiscatory policies would choke off growth and prosperity in the name of equality. (This basic taxes’ (his term) can be imposed without changing incentives or discouraging innovation and wealth creation. Piketty’s solutions would undoubtedly yield a more encourage the emergence of more capitalists by making Social Security private? “No policy proposed in recent years would have done more to expand capital ownership than
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.