Concrete Economics: The Hamilton Approach to Economic Growth and Policy by Bradford DeLong

Author:Bradford DeLong [DeLong, Bradford]
Language: eng
Format: epub
Published: 0101-01-01T00:00:00+00:00

The Long Age of Ike is a splendid example of America’s recurrent history of government using whatever means it can muster that fit the situation—changing laws and regulations, extending the wherewithal—in cash, tax advantages, or risk-reducing insurance—to enable huge investments, providing protection against imports, supporting invention and technological development in many (and some very direct) ways, and combinations of all of these policies to open a new economic space. And when this new economic space has been created, opening it to a rush of entrepreneurial energy and innovations, which hugely expands its range and reshapes the economy.

But this long history of success of government’s reshaping the economy by prodding, protecting, and enabling private enterprise to surge into new economic spaces, though perhaps no longer part of American memory and discourse, was not lost on the governments of other countries, who set about reshaping and developing their economies, and in the process, reshaped the American economy.

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