Presidential elections almost universally encompass economic issues—the electorate “votes with their pocketbooks.” This Presidential primary season has been no different than most, aside from the unusually distasteful rhetoric on the campaign trail and the pervasiveness of economic dissatisfaction.
This week, we present thoughtful articles and viewpoints on policies to help spur a growth-oriented policy program.
Sclerotic Growth is the overriding economic issue of our time, according to John Cochrane, Senior Fellow of the Hoover Institution, Stanford University, and Research Association of the National Bureau of Economic Research, and a Distinguished Fellow and formerly Professor of Finance at the University of Chicago Booth School of Business. His essay was prepared as a contribution to Focusing the Presidential Debates. This essay—well worth the read—addresses simple steps to help restore growth. Click here to read the full article
Reduce Partisan Conflict. The rise in partisan conflict is a drag on the U.S. Economy. It is driving up government budget deficits and holding down job creation, business investment and overall economic growth, according to research from the Federal Reserve Bank of Philadelphia. The economic effects of rising partisan conflict “are not only large but also persistent.” Click Here and Click Here
Central banks need to do less and politicians more. Politicians have come to rely on central bankers to provide the main source of economic stimulus. As a result, they have failed to force through reforms that are badly needed, according to Mohammed El-Erian, former International Monetary Fund economist and executive at Pimco. Click here to read the full article
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J. Mark Nickell & Co.
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