Wall Street Week Rattner on Manufacturing, High Cost of US Public Buses, Milan’s Boom
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Feb 13, 2026 
Steve Rattner, economist and financier who advised on the auto bailout, analyzes U.S. manufacturing, tariffs and transit procurement. Eric Brynjolfsson, Stanford AI and digital-economy researcher, talks AI’s productivity promise and policy choices. David Autor, MIT labor economist, explores how AI reshapes work, risks to labor and the policy trade-offs ahead.
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Realistic AI Productivity Gains
- AI could raise productivity substantially but not anywhere near promises like 15% GDP growth.
- Rattner expects realistic gains around 3–3.5% with proper AI adoption.
U.S. Buses Are Surprisingly Expensive
- U.S. electric buses cost far more than comparable models abroad, often exceeding $1M each.
- Ed Glazer highlights huge price variance and questions why bus procurement lacks automotive-style productivity gains.
Bespoke Orders Undermine Scale
- About 70% of new U.S. buses are bespoke, blocking scale economies and driving up costs.
- Custom specs across agencies prevent manufacturers from achieving mass-production savings.