On the Contrary

Four and a half years after the crash, the American economy sputters along. Twenty-three million workers cannot find full-time work, and the percentage of the employed population has hardly budged since it hit bottom two and a half years ago. Republicans argue that we should reduce the deficit (a disastrous policy); Democrats urge a new stimulus (a necessary step, but not sufficient to repair our economy). Missing from our national discussions about economic revitalization—even in arguments made by many of the nation’s progressive economists—is the need to restore a badly damaged manufacturing sector.

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