We need to recognize that the first step—rather than further government "medicine"—is to stop poisoning the patient, and return to capitalism.
It has become a commonplace that American manufacturing is in decline, and that changes in government policy are necessary to undo this. The President has made this notion a central part of his economic rhetoric, and assuming industrial issues are not overshadowed by scandals, they are likely to remain a major issue in elections for years to come.
In a recent article in The American Interest and important book, Advanced Manufacturing: The New American Innovation Policies (MIT Press, 2018), William B. Bonvillain and Peter L. Singer aim at offering a way forward, but are they correct that the common sense position about manufacturing is true? And if it is true, what is to be done about American manufacturing? We asked two scholars for their thoughts on the book’s arguments.
by John D. Mueller
by Michael C. Munger