>It could, but it's not very wise to bet on that. Even if the worst doesn't
>come to pass, it's still quite possible that some milder version of the
>crisis scenario could exert a drag on employment and incomes for years.
>There are things we could do to insure against the crisis or crisis-lite
>scenarios, like reversing Bush's tax cuts and rebuilding our manufacturing
>capabilities. Neither seems likely right now. So let's root for luck-- it's
>about all we've got.
I've occasionally wondered whether or not the industrial decline has a class dimension. Does the managerial class hate to get their hands dirty in factories? Do the most talented managers prefer to live in Manhattan and work in finance instead at a factory head office in Pittsburgh?
M.
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