THE LATEST FROM PPI
NEW REPORT: MANUFACTURING IN THE APP ECONOMY. We live in a world where the communications sector is driving the recovery and receiving much attention. We believe that this is the most important ongoing development in the American economy, offering the potential for long-term transformation. But while very important, a boom in communications isn’t enough, alone, to achieve balanced and sustainable growth. We need every sector of the economy, including manufacturing, to contribute. In this new report, PPI Chief Economic Strategist Michael Mandel and Economist Diana G. Carew undertake to answer this question: In this era of apps and social media, what is a reasonable long-term goal for manufacturing employment? Read HERE.
- Click HERE to listen to PPI's event featuring Center on Budget and Policy Priorities Senior Fellow Jared Bernstein, Louis Uchitelle of the New York Times and Leo Hindery, Managing Director of Intermedia Partners.
AND SPEAKING OF THE APP ECONOMY... WHY BASH INNOVATIVE GOOGLE? As Michael Mandel writes, "the Federal Trade Commission has apparently decided that it’s a good time to go after Google, one of the key leaders of the communications revolution. And, oh yes, incidentally one of the most innovative companies in the world. Are these guys serious?" Read more HERE.
Also this week at PPI's event, "The Economic Implications of the Wireless Boom," Recon Analytics Founder Roger Entner revealed his findings that the wireless industry currently supports as many as 3.8 million jobs.
- Click HERE for video clips of the event with PPI's Michael Mandel, AT&T's Jim Cicconi and George Mason University Professor Thomas Hazlett
- Coverage of the report and event: National Journal
GOOD NEWS FOR COLLEGE GRADS (AND THE ECONOMY). Finally, there is some good news for college grads. Economist Diana Carew writes that new data from the National Association of Colleges and Employers (NACE) shows the median starting salary for the class of 2012 is 4.5% higher than their peers graduating just a year earlier. This is a good sign for struggling college grads. As PPI noted in a study released earlier this year, the fact grads are becoming less able to repay this debt is just as important as the debt itself. Read more HERE.
THE GOVERNMENT INVESTMENT DROUGHT CONTINUES. Sometimes things are not what we think they are. The conventional notion is that government has become more important under President Obama, while the private sector has stagnated. Yet as Michael Mandel points out, in some ways the data tell a different story. Read more HERE.
CAN SOCIALISM FIX FRANCE? PPI President Will Marshall writes that "when Republicans call President Obama a ‘socialist,’ it says more about their lunge to the right than Obama’s policies. Besides, if they want to see what a real socialist looks like, they should turn to a country they love to hate: France." Will argues in Real Clear World that the Socialist presidential candidate, Francois Holland, is unlikely to offer France what it really needs-a credible program of deep structural reforms.
ELECTION WATCH: PPI Senior Fellow Ed Kilgore offers up his weekly take on the state of presidential politics HERE. In this week's edition, the presidential contest takes a rare turn to foreign policy with the anniversary of the killing of Osama bin Laden.
KICKER: "OF GEESE AND FLEECE" IN NYT. The New York Times editorial page weighs in on the newly-announced "Golden Goose" Awards to support government funding of basic research, co-sponsored by PPI and a bipartisan coalition of organizations. As the NYT editorializes, "Congress needs to remember that sound research is an investment in the future." Read the full editorial HERE.