On anothercount,though,reindustrializationmustpleadguilty ascharged:It doesfavor mitigating the criteria of "comparativeadvantage"with considera- tions of developmentaeconomics,social sensitivity, and nationalsecurity. Studiesof developmentaeconomicsshowthatshort-ter importlimitationsare oftenessentiafor developinga newindustrialbase;thesamemighthold for re- newingone. Socialconsiderationprovidemanyreason why we shouldnotex- port all blue-collarwork to Third World countriesto startwith, we haveplenty of unskilled laborof our own. Nationalsecurityrequiresus not to growsode- pendenton imported coal, steel,and shipbuildingthat we are unableto with standboycotts or other supplyinterruptions.
Reindustrializatio thusstandsbetweensupply-sideeconomicsand industrial policy; it is semi-targeted,andthe contextit seek to advanc is a strongepro- ductive capacity.
This much revised article draws on material previously included in An Immodest Agenda (1983).
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are a disgrace."