barry bluestone

Yet even if they manage somehow to get off the New Federalism bandwagon before becoming trapped by the contradictions of fiscal decentralization, the liberals’ standard program of stabilization, regulation, and redistribution has been doomed by history. The expansion of international competition and the new technological breakthroughs that make rapid capital mobility possible have produced a set of conditions under which government can no longer coerce the private sector to cooperate in the regulatory process or to provide the necessary revenue for the provision of public goods and social redistribution. Unfortunately the ability to provide an adequate social safety net was impaired before the liberal policy could complete its task of delivering a cleaner, safer environment and ridding the nation of poverty. The liberals still want both a high degree of laissez faire and an adequate social wage- including many public goods. Unhappily, in an era of hypermobility, the two do not seem to mix very well
—  Barry Bluestone, “The Deindustrialization of America”