This book was published by The IBM Center for the Business of Government, and includes a chapter by Mercatus scholar Jason Fichtner
With the current state of the economy, the upcoming election is going to focus on federal spending and budget deficit. The United States is at a tipping point: the nation’s national debt is over $15 trillion -- equal to, or exceeding the Gross National Product; unemployment is high and job creation is low. Our nation’s high levels of debt are crowding out private investment, raising costs to private business and stifling economic growth. Editor Charles Prow has brought together an impressive lineup of businessmen and women, reporters, and experts to show how the United States can be more competitive in the global economy. This book shows not only what is wrong with the current federal spending plan, but ways to fix it. Mercatus senior research fellow Jason Fichtner authored Chapter 5: “Three Approaches to Fostering Economic Competitiveness.” He argues that to help American businesses remain competitive in an increasingly globalized world, immediate action is required to improve their competitive position and to stabilize the macroeconomic climate in which they operate. While debt must ultimately be paid down, Fichtner discusses that there are other competitiveness-enhancing reforms which can be implemented more quickly in addition to reducing the national debt: tax reform, regulatory reform and tort reform.
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