Stephen S. Cohen and J. Bradford DeLong simply recommend that discussion of economic policy focus on the concrete - what works - rather than theory and ideology. Justin Fox
They write in their brand-new book,
“Concrete Economics: The Hamilton Approach to Economic Growth and Policy,”
I'm almost certain that more infrastructure investment would be a smart part of any new U.S. economic strategy.
But I'm not so sure what should be built and where, or what else the nation should be doing. It's unlikely that any one person would have all the answers anyway.
Justin Fox, BloombergView 1 March 2016
“Concrete Economics: The Hamilton Approach to Economic Growth and Policy,”
I'm almost certain that more infrastructure investment would be a smart part of any new U.S. economic strategy.
But I'm not so sure what should be built and where, or what else the nation should be doing. It's unlikely that any one person would have all the answers anyway.
Justin Fox, BloombergView 1 March 2016
Justin Fox was the editorial director of the Harvard Business Review.
He is the author of “The Myth of the Rational Market.”
Although I worked for three years in the Clinton Treasury Department, and am a card-carrying member of the economist guild, I predicted none of this.
Like most of my peers, I was wrong. Yet the most interesting thing is that I could have - should have - been right. I had read economist John Hicks; I just didn’t quite believe him.
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