A growing economy creates jobs, raises living standards, maintains global competitiveness, and thus engenders positive attitudes and optimism about the future.
While many policymakers seem intent on focusing on either economic stimulus or austerity, IPI believes that the economy can grow consistently and at higher rates than we’ve experienced in the last decade, and we reject the idea that economic growth contains within itself the seeds of its own demise through inflation, the business cycle, and erroneous Phillips Curve assumptions. Therefore, economic growth should be elected officials’ primary policy goal at the federal, state and local levels, and it’s the organizing principle of our policy work at IPI.
Whatever limitations may exist on economic growth, they should not be self-imposed through counterproductive tax policy, overbearing regulations, ill-conceived monetary policy, trade protectionism, or hostility toward skilled and ambitious immigration.
The Next Financial Hammer to Fall: Public Pension Funds
The public pension situation could get really messy in the near future.
Why Energy Companies Won't Produce
Companies expect that as soon as the current turmoil subsides, the Biden administration will shift back to hostile rhetoric, anti-energy legislative proposals, and oppositional regulatory policies.
Taxes Cause Deadweight Loss
Economists know to look under the covers when it comes to taxes, and they often find what's known as "deadweight loss."
Cancelling Student Loan Debt Would Worsen Inflation
Biden's student loan cancellation ploy would exacerbate inflation by putting even more money in the pockets of millions of Americans, most of whom don't need the additional cash.
We've Only Just Begun . . . to Spend
If you think inflation is bad now, wait until state and local governments and the feds start spending all of that appropriated money in the infrastructure bill.
An End to the Wussification of the Corporate CEO?
CEOs used to avoid alienating customers by speaking on political and social issues; but they have the right and expertise to speak out when President Biden makes ludicrous economic claims.
So, You Think Texas Is a Free-market Paradise? Try Buying a Car Direct from Tesla
Republican Texas legislators have chosen the campaign dollars of big-money contributors over fidelity to their stated free-market principles. They’ve chosen favoring businesses over consumers.
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