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 Minimum Wage Is A Price Control On Labor
In Tuesday’s Democratic debate, Sen. Bernie Sanders called for more than doubling the federal minimum wage to $15.00 an hour—a move that would hurt the poor by pricing workers out of the labor market and killing jobs.
The Minimum Wage Is a Price-Control Debate
Minimum wage legislation is just another form of price controls. Most economists understand why price controls don't work, but many people forget those principles with respect to the minimum wage.
California's New Fair Pay Act Says the State Is Closed For Business
This law slaps a big red target screaming “sue me!” on the backs of California’s largest corporations—because they have the deepest pockets to raid.
Here Are Some More Taxes That Should Be Repealed
In his tax reform plan, GOP presidential front-runner Donald Trump proposed repealing three different taxes.
Donald Trump Steps Up With Strong, Pro-Growth Tax Plan
Trump’s campaign has embraced a populist approach, and his tax plan reflects that stance in his move to a more progressive personal income tax. But before he was a populist, Trump was a businessman, and his corporate tax cut reflects his business acumen.
Major Victory for U.S. Energy Security As House Committee Approves Crude Exports
Today the House Energy and Commerce Committee approved HR 702, a bipartisan bill eliminating the 1970’s-era export ban on crude oil, which would lead the way to lower energy prices, increased energy supply, and be a boost to U.S. security, but the White House has announced its opposition to the measure.
Obama Takes A Swipe At His Own Recovery
During August, the Labor Department said another 261,000 people permanently dropped out of the labor force. "That's a net loss of 88,000 jobs, not an increase, " according to IPI President Tom Giovanetti. The labor force participation rate has been stuck for three months at its lowest rate since 1977, Giovanetti asserted. "That's not good news — that's a disaster, " he said.
Sugar Policy
When the maker of Oreo cookies announced it was moving one assembly line from Illinois to Mexico, it said the decision was the result of labor unions, not the price of sugar.
The Laws of Economics Mock the FCC
The FCC's net neutrality regulatory order has resulted in a massive hit to U.S. economic investment, and there is every reason to expect it to continue, writes IPI president Tom Giovanetti in RealClearMarkets. It's yet another self-inflicted wound on our economy through poor policy decisions.
FCC Fails to Suspend the Laws of Economics
The early data is in: The FCC's onerous new regulation has resulted in a precipitous drop in broadband investment.
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