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 True Cost of Copyright Industry Piracy to the U.S. Economy
Using a well-established U.S. government model and the latest copyright piracy figures, this study concludes that, each year, copyright piracy from motion pictures, sound recordings, business and entertainment software and video games costs the U.S. economy $58.0 billion in total output, costs American workers 373,375 jobs and $16.3 billion in earnings, and costs federal, state, and local governments $2.6 billion in tax revenue.
The True Cost of Sound Recording Piracy to the U.S. Economy
“Piracy” of recorded music costs the U.S. sound recording industries billions of dollars in lost revenue and profits. These losses, however, represent only a fraction of the impact of recorded music piracy on the U.S. economy as a whole. Combining the latest data on worldwide piracy of recorded music with multipliers from a well established U.S. government model, this study concludes that recorded music piracy costs American workers significant losses in jobs and earnings, and governments substantial lost tax revenue.
The True Cost of Motion Picture Piracy to the U.S. Economy
Motion picture piracy costs the film industry billions of dollars in lost revenue, but this is only a fraction of its impact on the total U.S. economy. Combining the latest data on worldwide movie piracy with multipliers from a respected U.S. government model, this study concludes that motion picture piracy costs American workers significant losses in jobs and earnings, and costs governments enormous lost tax revenue.
Drug Importation and R & D Spending: The Economic Impact on Washington's Economy
Consumer groups and the media are putting pressure on public officials to allow U.S. citizens to reimport drugs from foreign countries like Canada. Using an economic simulation model, this report concludes reimportation or price controls would have a significant negative impact on the Washington economy, and its large biotech sector.
Drug Importation and R&D Spending: The Economic Impact on Maryland's Economy
Consumer groups and the media are putting pressure on public officials to allow U.S. citizens to reimport drugs from foreign countries like Canada. Using an economic simulation model, this report concludes reimportation or price controls would have a significant negative impact on the Maryland economy, and its large biotech sector.
A Framework For Tax Reform
Our current federal tax system fails to raise the necessary revenue to fund government in an efficient manner, and in a way that accurately prices the cost of government so that voters can make intelligent decisions. The President’s tax reform commission should establish neutrality, visibility, fairness and simplicity as criteria for a reformed tax code that will improve the economy and promote better government.
Drug Reimportation and R&D Spending: The Economic Impact on the Illinois Economy
Consumer groups and the media are putting pressure on public officials to allow U.S. citizens to reimport drugs from foreign countries like Canada. Using an economic simulation model, this report concludes reimportation or price controls would have a dramatic negative impact on the Illinois economy, and its large biotech sector.
Does America Have a Prescription Drug Problem?: The Perils of Ignoring the Economics of Pharmaceuticals
Critics claim the pharmaceutical industry is unique and therefore requires distinctive forms of regulation, such as price controls. But absent in this view is a systematic appraisal of the economics of the industry. Were their approach adopted, the consequences would be less innovation, fewer life-saving drugs, and a less-healthy citizenry than what could be possible.
No Time Like the Present for Tax Reform
A Capital Gains Tax Cut: The Key to Economic Recovery
A capital gains tax cut would reliably stimulate economic growth. Historically, there is a strong relationship between capital gains tax cuts and overall economic growth. Over the past 30 years, every time the capital gains rates have been cut, capital gains revenues have risen. And now that almost half of all Americans own stock, a capital gains tax cut can no longer be said to benefit only “the rich.”
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