D-Squared Argues for Industrial Policy--of a Sort
D2:
D-squared Digest -- FOR bigger pies and shorter hours and AGAINST more or less everything else: The world's second lowest productivity industry: Unemployment. Furthermore, despite decades of technological advance in the rest of the economy, unemployment remains stubbornly at the bottom of the pile. There have been no major efficiency gains in unemployment in the last hundred years.
Normally I am sceptical of industrial policy, but when the government starts talking about moving resources out of unemployment, I think there is good reason to believe that they might be picking a winner...
