By Antonio Regalado, Technology Review
Harvard economist Ricardo Hausmann advises governments on what to manufacture. The U.S. has lost millions of manufacturing jobs since 2000. Industries have moved offshore. America’s trade deficit in physical goods is $738 billion a year. So what’s the path forward? Countries trying to understand what’s next for their export industries often call Ricardo Hausmann. The Harvard economist and onetime planning minister for Venezuela has developed a kind of economic aptitude test for nations. Using complexity theory and trade data, Hausmann looks at what a country is good at making and predicts what types of more valuable items it could produce next.
http://www.technologyreview.com/news/509281/you-must-make-the-new-machines/
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