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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.


Speed Up America, Slow Down China, or Both? The Key Strategic Question for the 21st Century

Speed Up America, Slow Down China, or Both? The Key Strategic Question for the 21st Century

The reality is that if America does not do both—speed itself up, and slow China down—then it will likely lose the techno-economic race in the advanced, traded-sector industries that are most strategically important for the country’s dual-use industrial base and national security.

The National Economic Council Gets It Wrong on the Roles of Big and Small Firms in U.S. Innovation

The National Economic Council Gets It Wrong on the Roles of Big and Small Firms in U.S. Innovation

A new White House report insinuates that small firms are America’s true innovators. Advancing this narrative makes it easier to advance an anticorporate antitrust agenda, including banning all mergers. However, scholarly studies and data do not support the administration’s premise.

More Publications and Events

April 1, 2024|Blogs

Fact of the Week: Financial Liberalization Increases Technology Diffusion Within a Country by 7–9 Percent

A recent working paper indicates a positive impact of financial liberalization on capital inflows, technology diffusion, and economic growth.

March 19, 2024|Events

An Era of Economic Warfare: Examining the EU’s Economic Security Strategy

Watch now for an expert panel discussion of Europe’s efforts and the implications for an allied approach to economic security in an era of economic warfare.

February 16, 2024|Op-Eds & Contributed Articles

The Case for National Developmentalism

National developmentalism is a third alternative to neoliberalism and neo-New Dealism, according to Robert Atkinson's piece in The Liberal Patriot.

January 28, 2024|Blogs

Abandoning Growth and Increasing Inequality: A Critical Look at Oxfam’s Recommendations for Corporate Regulations

Governments should ignore the message that large firms are harmful and instead allow them to acquire market power legitimately, keep IP rights strong, and reduce corporate tax rates. Doing so will increase innovation and expand the economic pie for everyone.

January 22, 2024|Reports & Briefings

National Developmentalism: The Alternative to Neoliberalism and Neo-New Dealism

Neoliberalism’s deficiencies are clear. To address the challenges America now faces, policymakers should adopt the doctrine of national developmentalism and not allow economic policy to swing back toward a revised New Dealism, as it is now doing.

January 19, 2024|Blogs

China Is Following the Same Path as the Asian Tigers

China has experienced the same growth trend that some of the Asian Tigers have experienced. Only China’s path is about 25 years behind.

January 5, 2024|Blogs

Unmasking Methodological Flaws in the Research Linking Concentration and Inflation

A recent article contends that an increase in concentration in the last two decades is amplifying price increases. But ITIF has found that corporate concentration has not increased, nor have price markups increased.

December 19, 2023|Blogs

The Digital Advantage: How Digital Services Boost Consumer Welfare

It’s easy to take for granted the economic and societal value we derive from digital services. But make no mistake: If they disappeared, it would cost us a pretty penny.

December 4, 2023|Blogs

NSF’s Technology Innovation Partnership Should Offer Grants for Universities to Establish Industrial Policy Programs

The United States is essentially defenseless against the kind of mercantilist aggression it now faces from China. Congress should respond by funding university programs and career training programs that focus on economic warfighting, which is distinct from learning about foreign affairs, economics, or military affairs.

November 6, 2023|Blogs

Fact of the Week: Digital Goods Have Increased Total Consumer Welfare Across 13 Nations by Over $2.5 Trillion

A recent working paper that analyzed 10 digital goods across 13 nations found that total consumer welfare from the selected goods increased by $2.5 trillion.

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