Economists have long recognized that technological innovation and enhanced communication increase productivity and reduce friction in economic activity. And never before has technology’s impact on economic growth been as evident as it is today.
At IPI, we focus on technology and communications policy not only because it’s critical to economic growth, but also because government’s inherent tendency to regulate prospectively poses an active threat to the economic gains and lifestyle enhancements made possible by technological innovation.
The communications and technology industries are among the country’s most competitive and the biggest capital investors in the U.S. economy, and are thus prime engines of economic growth and job creation. It is critical that public policy encourages continued innovation and investment in the tech sector, and that we don’t limit the innovation upside with counterproductive taxes and regulations.
