Brad on growth

Brad Delong has an excellent review of Ben Friedman’s The Moral Consequences of Economic Growth, which really sounds like required reading for any politician or student of international economy. I especially like his conclusion about what the structural changes currently happening in the USA are doing:

The desirability of the United States as a place in which to locate economic activity is growing rapidly: the underlying engine of technological progress is spinning faster than it has in at least a generation. I see rising working- and middle-class incomes in America during the next generation generating what is in Friedmanís terms a virtuous, not a vicious, circle.

Via Brad himself, incidentally.

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