Peter Temin
- Published in print:
- 2017
- Published Online:
- January 2018
- ISBN:
- 9780262036160
- eISBN:
- 9780262339988
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262036160.001.0001
- Subject:
- Business and Management, Political Economy
This book analyses the American economy in the twenty-first century as a dual economy in the spirit of W. Arthur Lewis. Adapting the subsistence and capitalist sectors characterized by Lewis, the ...
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This book analyses the American economy in the twenty-first century as a dual economy in the spirit of W. Arthur Lewis. Adapting the subsistence and capitalist sectors characterized by Lewis, the American dual economy contains a low-wage sector and a FTE (Finance, Technology, and Electronics) sector. The transition from the low-wage to the FTE sector is through education, which is becoming increasingly difficult for members of the low-wage sector because the FTE sector largely abandoned the American tradition of quality public schools and universities. Policy debates about public education and other policies that serve the low-wage sector often characterize members of the low-wage sector as black even though the low-wage sector is largely white. The model of a modern dual economy and the American history of race relations explain difficulties in both current politics and governmental actions in criminal justice, education, infrastructure and household debts.Less
This book analyses the American economy in the twenty-first century as a dual economy in the spirit of W. Arthur Lewis. Adapting the subsistence and capitalist sectors characterized by Lewis, the American dual economy contains a low-wage sector and a FTE (Finance, Technology, and Electronics) sector. The transition from the low-wage to the FTE sector is through education, which is becoming increasingly difficult for members of the low-wage sector because the FTE sector largely abandoned the American tradition of quality public schools and universities. Policy debates about public education and other policies that serve the low-wage sector often characterize members of the low-wage sector as black even though the low-wage sector is largely white. The model of a modern dual economy and the American history of race relations explain difficulties in both current politics and governmental actions in criminal justice, education, infrastructure and household debts.
