Economic Theory

A report on inequality commissioned for this year’s G20 summit offers ill-advised antitrust recommendations for reducing income and wealth inequality.

A pro-worker agenda isn’t the same as a “national greatness” agenda. Workers are an interest group like any other: sometimes aligned with what’s best for the American Republic, and sometimes not.

The neo-Brandeisian movement cleverly repackages Marxist ideology under the guise of antitrust.

Americans have forgotten that prosperity depends on valuing productivity, grounding ideals in realism, striving for progress, and maintaining the optimism and adventurous spirit to embrace change.

Economic evidence continues to show positive effects of firm size on innovation. Scale matters for innovation and economic growth, and antitrust policy should not be constrained by the “big is bad” notions of today’s antitrust populists.

Although the seven values of the American Business Creed were widely accepted in the 1950s, two have eroded over time, driven largely by changes in business itself.

Unless we can restore the growth imperative in the West, we can—no surprise—expect slower, or in the case of some countries like Canada and the UK, negative per-capita income growth.

Trade policy should focus first and foremost on defense, dual-use, and enabling sectors and largely ignore nonstrategic sectors.

Rostow’s model suggests that stage five is the ultimate destination. A better model sees no fixed stages and certainly no permanent peak, only a relentless push to go higher and higher.

In reality, we live in a global economy that requires large, integrated firms to advance national success. That means embracing multinationals, not demonizing them.