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Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference

 

 Clyde Prestowitz giving presentation to CDI...

 

Steve Olson teaching trade negotiations at the Mekong Institute...

 

Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

(06/22/10) Clyde Prestowitz Article in New Republic

The $64 Trillion Question (Part 1)
How can we get the American economy to prosper again?

Clyde Prestowitz

June 22, 2010


That we seem to have avoided another Great Depression doesn?t mean our economy is anywhere near as strong as it should be. In fact, most indicators?from unemployment to private investment?prove quite the opposite. What can be done? How can we ensure the U.S. enjoys not merely a modest recovery but the kind of buoyant prosperity we saw in the decades after World War II and briefly in the 1990s? We put the question to few political economists and will run their thoughts over the next couple weeks. Here is the first entry, from Clyde Prestowitz, a former Reagan administration official and the president of the Economic Strategy Institute.

The Obama administration justifiably takes credit for preventing a 1930s style economic collapse and engineering a modest recovery from the Great Recession. But, as Obama heads to Toronto Friday for the G-20 summit, the administration needs to ask itself whether that?s enough to lay ?the foundations for a renewed American prosperity that is more sustainable, fairer for more of our citizens, and more competitive globally.?

In the past, the United States has pursued prosperity in two distinct ways. Over the last three decades, it has embraced globalization and sought to act as the administrative, marketing, and financial center of world capitalism as well as the consumer of last resort for the export giants in Asia. This path has led to enormous excess consumption at the expense of investment and production and to large, chronic trade deficits.


Click Here to read the the entire article in the New Republic.

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