Alan Blinder

Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics at Princeton University and Co-Director of Princeton's Center for Economic Policy Studies, which he founded in 1990. He has served as vice chairman of the Federal Reserve Board and was a member of President Clinton's original Council of Economic Advisers.

Recent Articles

Outsourcing: Bigger Than You Thought

The great conservative political philosopher Edmund Burke, who probably would not have been a reader of The American Prospect, once observed, "You can never plan the future by the past." But when it comes to preparing the American workforce for the jobs of the future, we may be doing just that.

Social Security and the New Fiscal Policy

The most profound, and profoundly disturbing, innovation in budget policy during the administration of George W. Bush has been to discard the old-fashioned notion that presidents who propose a tax cut or new spending should also propose some way to pay for it. That practice, apparently, is just soooo 20th century.

Controversy: Can't We Grow Faster?

Continuing the debate from "The Speed Limit," by Alan S. Blinder, and "Why We Can Grow Faster," by Barry Bluestone and Bennett Harrison (September-October 1997).

Continuing the debate from "The Speed Limit," by Alan S. Blinder, and "Why We Can Grow Faster," by Barry Bluestone and Bennett Harrison (September-October 1997).

Dear Alan:

The Speed Limit

It would be nice if the Dodgers returned to Brooklyn and if the economy grew faster than 2.3 percent. But neither of these things is in the offing.

Say it ain't so, Joe," a young
boy is reputed to have implored Shoeless Joe Jackson, the tarnished
star of the infamous Chicago "Black Sox" in 1919. That
same cry went up in February 1997 when the Council of Economic
Advisers, then headed by Joseph Stiglitz, pegged the U.S. economy's
long-term growth rate at only 2.3 percent per annum. "Say
it ain't so, Joe."

Like the young baseball fan, growth optimists from
both the left and the right of the political spectrum do not want
harsh realities intruding upon and ruining their dreams. But Joe
Jackson couldn't say it wasn't so, because it was. And neither
could Joe Stiglitz.

More Like Them?

"I don't know whether the Japanese system is good or not. I just don't understand it." Bob Homer (an American baseball player who played in Japan)

* * *

A generation ago, "made in Japan" conjured up images of shoddy but inexpensive goods. Today that phrase is synonymous with high-quality, and high-priced, automobiles and consumer electronics. This much is familiar. But Americans are less familiar with something else made in Japan: a new and unique type of economic system that, while certainly not socialist, is not quite capitalist either.