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January 18th, 2010
The Corruption of Capitalism
Abstract:
Duncan certainly shows that he's a big thinker. After discussing what he believes is the most feasible alternative in today's predicament - government taking over economic activity as a palliative to keep the economy floating - he proposes a radical idea, even for industrial-policy advocates. The U.S. government should authorize 3 trillion dollars to invest in three areas: solar power, (medical) genetics and nanotechnology. The idea behind it is that these disbursements will lead to the re-industrialization of America, ensuring a more balanced trade balance. A host of new, innovative businesses that result will more than cover the expenditures by widening and deepening the tax base. Three trillion dollars spent in this way will put America back to work again and re-establish it as a paragon of productivity.
Source:
enterstageright.com
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