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Economic Theory

As nations engage in a race for global advantage in innovation, ITIF champions a new policy paradigm that ensures businesses and national economies can compete successfully by spurring public and private investment in foundational areas such as research, skills, and 21st century infrastructure. Our work in the realm of economic theory assesses the negative impact of conventional neo-Keynesianism and neoclassical economics on the 21st century economy and promoting “Innovation Economics” as a sounder alternative.

June 22, 2022

The World After Ukraine

Putin’s attack should galvanize real foreign policy, defense policy, and industrial policy cooperation among democratic, allied nations.

May 2, 2022

Antitrust Bills Under Fire From Former Chief Economists

The best way to regulate competition and enforce antitrust to prevent anticompetitive conduct remains the judicial process: Judge-made law better preserves adherence to the rule of reason, efficiency considerations, and, more generally, to the rule of law, which provides greater legal certainty. In other words, the enforcement of antitrust laws ought to remain predominantly dynamic, using the evolutionary process of the court system.

April 14, 2022

An Industrial Policy Won’t Hurt You

It is important for conservatives to recognize that China poses a critical threat to America’s future and that we need a strong, technologically vibrant economy to respond. This in turn requires a national industrial policy.

April 11, 2022

Why America Should Compete to Win in Advanced Industries

Until a significant share of America’s leaders believes the United States is in economic competition with other nations—and that it has a right and duty to win that competition—generating the political will for a national advanced-industry strategy will be difficult.

February 9, 2022

Dignity in a Digital Age: Making Tech Work for All of Us

There is much to like about Rep. Khanna’s agenda, especially as it relates to stronger federal support for helping disadvantaged workers and regions, spurring greater levels of technological innovation, and raising taxes on the wealthy. It would be nice if voters could have that without a heaping helping of anticorporate regulation, which would hurt innovation, economic growth, and U.S. competitiveness.

February 7, 2022

Weaving Strategic-Industry Competitiveness Into the Fabric of U.S. Economic Policy

Meeting the challenge of China’s mercantilist, state-directed economy will require much more than piecemeal competitiveness initiatives, as important as they are. It is time to incorporate a competitiveness focus into most if not all major areas of U.S. policy affecting the economy.

January 11, 2022

What a National Strategic-Industry Policy Should Look Like

ITIF hosted a discussion of what a robust national strategic-industry policy should—and should not—entail.

January 3, 2022

2022: The Year of Strategic-Industry Realism?

Congress can get things done when they are seen as broadly in the national interest. Now is the time to shore up the competitive position of key strategic industries so America can continue to be the leading global power and outcompete China militarily, economically, and technologically.

December 6, 2021

Fact of the Week: A 10-Percentage-Point Increase in Concentration Corresponds to a 2.3 Percent Reduction in Industry Prices

Widely adopted intangibles help lower firms’ marginal costs, which helps consolidated firms pass along lower final costs to consumers.

December 2, 2021

Big Businesses Power Our Economy—We Should Not Be Discriminating Against Them

If Canada wants a growing, competitive economy with higher productivity and wages, policymakers need to recognize the critical role that large businesses play.

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