“‘As a member of the EU and as a high-income country, despite current difficulties, Greece’s growth cannot be based on being a manufacturing hub for simple products produced with low wages. A high-quality tourism sector will remain central in Greece’s future, strengthened and complemented by more cultural activities, retirement communities from northern Europe and high-quality medical services at advantageous costs. High value- added agriculture will also be important. Greece should work on channelling a greater portion of the revenues generated by shipping to its national economy. It should find niches in the high-technology sector and participate in its worldwide structure. Finally, with considerable potential for wind and solar energy, green technologies can, in the longer run, become a major source of growth.'”
Greece After The Crisis, by Paul Krugman, NY Times, July 8, 2011
We should totally do this. Play to our strengths instead of creating some weird slave society for the service industry by destroying public education and infrastructure. Or manufacturing cheap products with slave labor for export. And by “we” I mean the entire U.S. or just California. Either, both, and I’ll be happy.