tax cuts and deregulation of interstate commerce the Reagan administration; states that followed suit, such as Florida and Illi-nois, have enjoyed robust economic gains. The 1980s experience indicates that Washington should not try to block change through an "industrial policy"; it should pursue market-oriented trade and monetary policies, allowing all areas of the nation to attain "long-run economic success."
"Contraction and Expansion: The Divergence of Private Sector...