(public).sospep.subjects ~ view article ~ Trumps-industrial-rebirith-is-a-dead-end

<h1 style="text-align: center;">Trumps industrial rebirth is a dead end</h1>
<h2>[WHAT]</h2>
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<li>] by Noah Smith @bloomberg.com - Smith analyzes a recent book by UC Berkely economist Enrico Moretti and concludes that Trumps campaign promise of returning America to its industrial age glory is unlikely to succeed. Smith's analysis suggests that focusing on the things that are "working" in the "healthy" parts of America today, is a more likely to be a path to success for those that have been left behind. &nbsp;&nbsp;</li>
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<h2>[WHY]</h2>
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<li>]&nbsp;</li>
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<h2>[WHERE]</h2>
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<li><strong>] READ THE FULL ARTICLE</strong></li>
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<li>]&nbsp;<a href="https://www.bloomberg.com/view/articles/2017-03-07/trump-s-industrial-rebirth-is-a-dead-end" target="_blank">https://www.bloomberg.com/view/articles/2017-03-07/trump-s-industrial-rebirth-is-a-dead-end</a></li>
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<h2>[WHEN]</h2>
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<li>] 2017-03-07</li>
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<h2>[EXAMPLE]</h2>
<p><strong>Trump's election campaign</strong> emphasized <strong>the promise of a return to the industrial economy of the mid-20th century,</strong> before countries such as China supplanted the U.S. as the workshop of the world.&nbsp;</p>
<p><strong>But this push is unlikely to succeed.</strong> Changes in the U.S. industrial mix, and in technology itself, mean there's no going back to the economy of yesteryear. To understand why this is true, <strong>everyone should read "<a href="https://www.amazon.com/New-Geography-Jobs-Enrico-Moretti/dp/0544028058" target="_blank" data-web-url="https://www.amazon.com/New-Geography-Jobs-Enrico-Moretti/dp/0544028058">The New Geography of Jobs</a>," by University of California-Berkeley economist Enrico Moretti.</strong> It's probably t<strong>he most important popular economics book of the decade.</strong></p>
<p>Moretti demonstrates that <strong>there really are two Americas</strong> -- <strong>one that's healthy, rich and growing</strong>, and <strong>a second that's increasingly being left behind.</strong></p>
<p>In graph after graph, he shows that the<strong> cities with better social indicators</strong> in the 1980s -- longer life expectancy, lower divorce rates and higher voter turnout -- <strong>have steadily increased their advantage since then</strong>. And these are also <strong>the cities with the highest number of college graduates -- the innovation hubs.</strong></p>
<p><strong>The places that are being left behind are the ones that lack top-end human capital.</strong></p>
<p><strong>Local multipliers are the key to providing Americans with good jobs.</strong></p>
<p>So if returning to mass manufacturing isn't the solution, what is? <strong>When you can't go back, you have to push forward. The U.S. has to make the innovation economy work even better.</strong></p>
<p><strong>One solution Moretti suggests is to help more people move to the innovation hubs.</strong> As things stand, many of the best-performing cities limit their populations with development restrictions. Creating more density in cities such as Austin, Texas, San Francisco and San Diego would benefit service workers and low-income people, who Moretti shows do better in these cities even after accounting for local living costs.&nbsp;</p>
<p><strong>Another idea is to focus on government investment in human capital.</strong> That means expanding universities, upgrading their research capabilities and developing links between universities and local businesses.&nbsp;</p>
<p><strong>Trump's economic team needs to read Moretti's book.</strong> Writing angry tweets at companies that open factories in Mexico won't create good jobs for American workers. <strong>But expanding universities and allowing greater urban density just might do the trick.</strong></p>
<h2>[HOW-TO]</h2>
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<li>]</li>
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<h2>[REFERENCE]</h2>
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<li>] SRC = HN, comments</li>
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<h1 style="text-align: center;">&nbsp;</h1>

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