What would Romney do to get the economy back on track?

If Conard is right that the Bush-era economy was basically on a sound footing, then simply rolling back Obama-era interventions and forestalling tax increases on the investor class would probably restore our economic health. That points to a relatively conventional Republican policy vision, focused primarily on keeping marginal tax rates as low as possible.

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Zingales’s narrative, on the other hand, suggests that more radical reforms are needed to restore American competitiveness. A Republican administration influenced by his book would place a heavier emphasis on issues that the right is often uncomfortable tackling — not only health care and education, but also some form of financial-sector reform.

Given his own background, it’s a safe bet that Mitt Romney identifies more with Conard’s perspective on the world. But that makes it all the more important that he consider Zingales’s equally provocative account as well.

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