Import Substitution Industrialization for the United States

by Reihan Salam

Briefly, I thought I’d draw your attention to a new paper by Michael Mandel and Diana Carew on “manufacturing in the app economy,” which sparked posts by Matt Yglesias and Scott Sumner on why increasing domestic manufacturing employment might require a more accommodative monetary policy. I hope to say more about the substance of Mandel and Carew’s paper soon. Walter Russell Mead’s recent post on the marked increase in recoverable domestic hydrocarbon reserves is of related interest.