There’s a reason why government spending on renewable energy, infrastructure, and critical R&D is needed for domestic economic growth now more than ever. The private sector, driven by short-term profits and easily marketable products, will rarely invest in/develop transformative products until the government creates initial demand (US government bought most microchips, sustaining infant industry, until a market was created) or establishes the platform for such innovation (building a new energy grid to transport renewables, buying enough natural gas/electric vehicles to justify a private investment in refueling stations, etc.).
In his latest post for The New York Times’ Campaign Stops blog, Thomas B. Edsall ’blames’ technology for stagnant job growth (increased productivity, robotics, etc.), but that’s just one contributing factor. In Patriot Acts, I discuss why corporate loyalty has gone global, suppressing political support for game-changing public investment in our nation and our citizens. The actions needed to spur large-scale, long-term job creation in 21st century America will only occur in partnership with the government (read: the People).
From The New York Times Campaign Stops
