Tax Policy and Economic Growth

The point I’d like to add is that the U.S. has already done this once. In the 1970s, led by Cornell Professor Alfred E. Kahn, several important industries were deregulated: airlines, trucking, transportation generally, energy, communications (remember the old AT&T monopoly?), and finance (including banking). Each of these industries lowered prices, increased quantity offered and increased the variety of products available to consumers. Arguably, deregulation helped dampen the sluggish growth during those two decades. Continue Reading →

The Sources of Economic Growth

Economists continue to do research. The best research tries to relate economic theory to real-world data. Drs. Hall and Jones are outstanding practitioners of this science. While their analysis of economic growth still leaves room for additional research, that is the point. And that’s what keeps me interested in economics. Continue Reading →