Distinguished Lecture on Economics in Government: Strengthening the Economy by Rethinking the Role of Federal and State Governments
这篇讲座探讨了国家经济政策与美国联邦制结构的关系，主张未来十年改善美国经济需要重新划分联邦与州政府的职责，让州政府更明确地负责公共投资，联邦政府则专注于国际事务、社会保险和联邦预算盈余。
This lecture brings together two subjects that are not often discussed together: national economic policy and the structure of American federalism. My thesis is that the policies needed to improve the health of the U.S. economy over the next decade or two require a new look at the division of responsibilities between the federal government and the states. In particular, I will argue that the states should have much clearer responsibility for most kinds of public investment, especially for improving the skills of the labor force and upgrading public infrastructure. The federal government should concentrate on a different set of missions, including interaction with the rest of the world, strengthening social insurance, and contributing to national saving by running a surplus in the unified federal budget.