Was the development of COVID-19 vaccines under Operation Warp Speed a successful example of “industrial policy”?
Cambridge University Press has published a 35th anniversary edition of The Economist’s View of the World and the Quest for Well-Being by Steven E. Rhoads.
Douglas Clement interviews Rucker Johnson about his research in the Fall 2021 issue of For All, published by the Opportunity & Growth Institute at the Minneapolis Fed (“Rucker Johnson interview: Powering potential,” subtitled “Rucker Johnson on school finance reform, quality pre-K, and integration”).
In the first half-century or so of US history, most of the legislation about businesses occurred at the state level, and the bulk of that legislation was goodies for political supporters, like special legislation allowing a politically connected person or group to start a firm or a bank.
In the past half century Lebanon has quickly moved from a state with a thriving economy envied by its neighbors to a failed economy and state.
One of the ongoing public narratives, beginning with the start of President Trump’s imposition of tariffs on trade with China and others and continuing up through the pandemic, has been whether a previous pattern of off-shoring–that is, importing goods and inputs from abroad–would emerge. More generally, the question has been whether the US economy would become less attached to Chinese imports.
In most recessions, consumption of services doesn’t move much, while consumption of goods drops fairly sharply and then rebounds over time.