The nation's economy at mid-year is operating like a three-lane expressway with one lane closed. GDP growth is breaking 2.0% when it should be 3.0%. But worse than that, the cars moving in the two open lanes are running on borrowed fuel that will someday have to be paid back.
The Mercatus Center’s clear-headed research is shaping the conversation on government spending, fiscal austerity, and financial market regulation. Come hear what the former New Zealand cabinet minister would do in this country to promote economic growth and fiscal responsibility.
"It [an incentive program geared toward a specific company] tends to undermine competition and lead to monopolistic behavior, so that means higher prices for consumers, potentially higher profits for producers,"
Like most academic economists, Mr. Cowen focuses on the next quarter-century rather than the next quarter. But new technologies like artificial intelligence and online education, increased domestic energy production and slowing growth in the cost of health care have prompted Mr. Cowen to reappraise the country’s prospects.