“It’s the Economy, Stupid!”

Addressing today's employment and economic development challenges will require careful and complex solutions

During the presidential election campaign of 1992, and on the heels of a short, sharp national recession, James Carville, a political advisor to the Clinton campaign, famously characterized what the election was all about by coining the phrase that I’m using as the title of this blog post.

Now here we are, 22 years later, and in every political campaign since the Great Recession of 2008, this same phrase—although now tellingly focused specifically on jobs—is the basis of the platform of almost every candidate for office.

The problem is that the focus on jobs—understandable, given that in almost six years the economy has not fully restored the jobs lost in 2008 and 2009—goes well beyond mere political sloganeering.  It permeates every conceivable facet of society: