The Economics of Illusion and the Illusion of Economics
Article Summary and Author Biography
The US economy faces an investment crisis which cannot be addressed by frugality of tax rises and budget cuts or by protectionist blaming of foreigners. Proposes to encourage personal savings at the expense of consumption, and collective investment in social infrastructure.
Robert B. Reich teaches political economy and management at Harvards John F. Kennedy School of Government. His most recent books are Tales of a New America and The Power of Public Ideas, of which he is co-author and editor, respectively.
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