Economic Theory

Please join ITIF for an online presentation and discussion with Robert D. Atkinson and David Moschella, co-authors of Technology Fears and Scapegoats: 40 Myths About Privacy, Jobs, AI, and Today’s Innovation Economy.

Calvin Coolidge was right when he said, “the chief business of the American people is business.” We need to reembrace that ethos by making sure our social contract rewards companies that bring new innovations to market, boost productivity, fight like hell for global market share, and sustain as many high-value jobs at home as is economically feasible.

The dominant economic policy model of the post-war era has focused on the overall economy, markets, and prices, but not on the process by which entrepreneurs, firms, and industries use technology to boost growth and national power. Which is closer to your view?

It would be a shame if Republicans and moderate Democrats wasted this moment by reverting to Reagan-esque, neoliberal nostalgia or incremental reforms. Restoring economic strength will require taking some big swings at policies to advance business-driven innovation.

Increasing labor productivity through the development and adoption of new technologies will drive economic growth and should not be ignored as a viable way to raise federal revenue and decrease the budget deficit.

Compustat data has three major limitations, which makes citing studies that use these datasets as evidence of rising concentration (or declining competition) problematic. Policymakers should focus on studies that use the official and much more comprehensive data from the Economic Census.

The dominant economic model of the post-war era has run its course. It’s time to embrace a new paradigm that focuses on enabling producers to succeed, especially in advanced, traded-sector industries.

It’s easy to get excited about new breakthroughs, but the real power lies in diffusing technological advances throughout the entire economy.

Spurring the transition to clean energy is now widely viewed not just as the key to fighting climate change but also as the silver bullet to restoring economic growth. But it's not. They are separate goals that require separate policies, as Robert Atkinson writes in Research Money.

It’s time to set a bipartisan goal to raise median household income to $100,000 in 10 years, which requires boosting growth from 1.2 percent to 2.2 percent per year.