After the November elections, the new Congress and the next president must focus on policy that promotes faster economic growth and addresses the urgent need for reducing inequalities and the concentration of wealth in the USA. Washington must cut the shackles that reduce the productivity of America’s system of free market capitalism. The crown jewel of the American economy is Big Tech. Policy must support these companies. AI alone could raise annual productivity growth by 0.5% to 1.5% per year. America is the world leader in healthcare innovation. AI will accelerate drug discovery. The U.S. is also a low-cost producer of energy. We need to implement policies that encourage the production of all forms of energy: oil, gas, solar, wind, and nuclear. Permitting reform is another essential feature for a faster growing economy. Congress must assert its authority over permitting reform. Legislate that new energy projects be approved within one year. No more NIMBYism. Tort reform must be part of the solution to rolling back the regulatory state. The transportation system can also be made dramatically more productive. We must rush toward autonomous driving. Unleashing the American spirit of innovation can raise productivity growth, increase annual GDP growth, and stabilize the debt-to-GDP ratio, which will in turn lower interest rates and increase productive capital investment.
This Washington Examiner op-ed by James Rogan emphasizes the need for policy reforms to unleash the U.S. economy and promote faster economic growth. The author argues that Washington must remove the shackles that hinder the productivity of America's free market capitalism. The op-ed highlights the importance of supporting Big Tech companies, as AI alone could significantly boost annual productivity growth. The U.S. is also recognized as a leader in healthcare innovation, and AI is expected to accelerate drug discovery. Additionally, the op-ed calls for policies that encourage the production of all forms of energy, including oil, gas, solar, wind, and nuclear. Permitting reform is identified as another crucial aspect for a faster-growing economy, with Congress urged to assert its authority in this area. The op-ed also advocates for tort reform and the adoption of autonomous driving to enhance the productivity of the transportation system. The author concludes by emphasizing the potential of innovation to raise productivity growth, increase GDP growth, and stabilize the debt-to-GDP ratio, leading to lower interest rates and increased productive capital investment.
The article from Countercurrents.org by Bharat Dogra discusses the urgent need for two key reforms in the USA: a significant reduction in inequalities and the concentration of wealth, and improved knowledge and understanding through public education campaigns. The author highlights the confusion and uncertainty experienced by many Americans living in poverty in the richest country in the world. The article also emphasizes the negative impacts of excessive military spending and the control exerted by a few Wall Street investment firms over the economy. It calls for a focus on justice, equality, peace, and environmental protection to bring about real change. [a6f8a355]