Economic lessons from the Boss

For insights into the U.S. economy, put down your Milton Friedman and pick up some Bruce Springsteen.

For insights into the U.S. economy, put down your Milton Friedman and pick up some Bruce Springsteen. So says Australian Treasurer Wayne Swan, said James Grubel in Reuters.com. Swan, named finance minister of the year in 2011 by banking magazine Euromoney, says he has long been inspired by the Boss. “You can hear Springsteen singing about the shifting foundations of the U.S. economy, which the economists took much longer to detect,” Swan said in a lecture to Australia’s ruling Labor Party this week. Swan cited the Springsteen songs “The River,” which describes the collapse of the construction industry, and “My Hometown,” about a closing textile mill and its effect on a small town. And he sees a lesson in Springsteen’s music for Australia: “Don’t let what has happened to the American economy happen here.”

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us