Big Ups.

words.

"What are the public-policy takeaways of the Harvard-NYU study? First, that the president’s emphasis on public investment is a screamingly necessary corrective to a national economy that has a structural bias against investment. So long as CEOs are more concerned with short-term share value than long-term research, development and production, either the public sector will have to pick up the investment slack or nobody will.

The second takeaway is a more long-term, fundamental project: We have to alter those CEOs’ concerns. Their pay and bonuses need to be unlinked from share value, and corporate boards must include employee and community representatives. In the broadest terms, the economy must be reshaped from one subservient to Wall Street’s emphasis on short-term valuation to one that promotes productive investment. For all the talk about the alleged “skills gap” of U.S. workers, it’s the investment gap of U.S. business that is dragging the economy down."

THE WASHINGTON POST: Publicly owned companies need to invest