Government Grows the Economy
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Economist Jeff Madrick, director of policy research at The New School’s Bernard Schwartz Center for Economic Policy Analysis, is among several key speakers at next week’s Building the New Economy conference here in Washington, D.C. AFL-CIO President Richard Trumka and United Steelworkers President Leo Gerard also are among keynote speakers. Here, Madrick shares with us why government involvement in the economy is essential to ensure a robust, successful nation.
America had been living a free-market myth for a generation until the credit crisis of 2008 and 2009 descended on the nation—and the world. One expression of that myth, found frequently on the editorial pages of the popular media, was that government does not grow economies, business does. In other words, government, don’t meddle where you’re not needed. Politicians are even easier to belittle than government itself.
Obama Economic Plan: Create Made-in-America Jobs
President-elect Barack Obama today laid out some of the details of his economic recovery plan. While the current President focuses on giving the Medal of Freedom to the leader of a country that has the highest number of trade union murders in the world and on spending nearly $600,000 on new china for the White House days before leaving office, Obama is moving to clean up the Bush economic mess. Giving the Democratic radio address this morning, Obama said:
Our first job is to put people back to work and get our economy working again. This is an extraordinary challenge.
