Tuesday, September 07, 2004

The right way to recovery

Dittoing Yglesias at The American Prospect, progress?
Gradually, by the 1970s and 1980s, southern political leaders, and even many business leaders, woke up to the fact that deliberately maintaining a low standard of living wasn't worth the paltry payoff in low-wage textile jobs. And slowly but surely, a consensus developed that decent education and adequate public services were positive, not negative, factors in long-term economic development. The states that pursued this "high road" strategy--especially North Carolina and Georgia--tended to prosper. The states that stayed on the low road--especially Mississippi and Alabama--didn't.

That's why it is so profoundly depressing to see the theory of economic development that my home region finally began to abandon over the last few decades now being embraced by the national government as the way for America to successfully compete in a global economy.

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