From Critiques Of Libertarianism
Emphasizes that growth comes from promotion of a strong middle class, rather than by addressing the top 1% (as in Supply-side economics.)
- My Take on the Seven Things We Need to Focus on for Equitable Growth in America [More...]
- Brad DeLong presents seven progressive ideas that promote growth and simultaneously reduce inequality.
- The Middle-Out Moment [More...]
- A symposium to make what “middle-out” economics the operating progressive theory of economic growth. ": That is, we must promote middle-out economics not just as a nice-sounding idea, but as the direct alternative to trickle-down economics. Where conservatives say investing in the top 1 percent drives growth, we say that investing in the broad middle does it."
We are going to need a bigger and better government. The private unregulated market does not do well at health-care finance, at pensions, or at education finance. The private unregulated market does not do well at research and early-stage development. The private unregulated market does not do well with commodities that are non-rival, or non-excludible, or produced under conditions of greatly-increasing returns to scale. We are, in all likelihood, moving into a twenty-first century in which these sectors will all be larger slices of what we do. Thus in the twenty-first century a well-functioning economy will need a larger government share in the economy than was needed in the twentieth century.
Brad DeLong, "My Take on the Seven Things We Need to Focus on for Equitable Growth in America: Thursday Focus"