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Full-Text Articles in Public Policy
A Tax System For An E-Commerce Economy, Murray L. Weidenbaum
A Tax System For An E-Commerce Economy, Murray L. Weidenbaum
Murray Weidenbaum Publications
Many state governments and federal policymakers view a new, special tax on electronic commerce to be a fresh and attractive revenue source. But whether implemented at the state or national level, this new tax would be highly undesirable, because it simply expands the shortcomings of the current revenue structure. Because of the flexibility of e-commerce, the attempt to collect such a tax would result in enforcement policies that would further complicate an already complex tax system. The way out of this conundrum is to see the shortcoming in current efforts to tax internet transactions as part of a broader need …
The Assault On The Global Economy, Murray L. Weidenbaum
The Assault On The Global Economy, Murray L. Weidenbaum
Murray Weidenbaum Publications
The global economy is under assault by a strange alliance of radical groups and several mainstream environmental organizations. The outfits from the far left are long-term opponents of the capitalist system, both at home and abroad, so their opposition to trade between nations is neither new nor newsworthy. It is surprising, however, that organizations like the Sierra Club and Friends of the Earth have joined this effort to oppose the modern economy. This paper attempts to respond to these views. Isolationist policies are a foolhardy, futile pursuit in today's interconnected, globalized economy.
The U.S. Trade Deficit: A Misleading Economic Indicator, Murray L. Weidenbaum
The U.S. Trade Deficit: A Misleading Economic Indicator, Murray L. Weidenbaum
Murray Weidenbaum Publications
The U.S. trade deficit is the most misleading indicator of economic performance in our statistical tool kit. More often than not, bad news for the economy is good news for the trade deficit, and vice versa. In 1992, the economy was in recession and our trade deficit came down. One year later, the opposite was true. When we look beyond the short-run gyrations of the trade balance and the business cycle, more fundamental, longer-run problems do involve the trade deficit. Indeed, it is a symptom of a more basic economic imbalance.
Recasting The Role Of Government To Promote Economic Prosperity, Murray L. Weidenbaum
Recasting The Role Of Government To Promote Economic Prosperity, Murray L. Weidenbaum
Murray Weidenbaum Publications
No government in the world has an agency with the mission of depressing the economy or accelerating the rate of inflation. Yet, many government actions - especially taxation, government spending, and regulation - have those undesirable effects. The paper focuses on government regulation of business, where the costs are especially insidious, and what can be done to reform this regulation. Government decision-makers often forget the fundamental fact that individuals and private organizations have tremendous capability to deal with the shortcomings of a modern economy on their own. Relying more heavily on private initiative moves us closer to a free society …
Science--The Endless Frontier: A Half Century Later, Murray L. Weidenbaum
Science--The Endless Frontier: A Half Century Later, Murray L. Weidenbaum
Murray Weidenbaum Publications
In July 1945, Vannevar Bush wrote the treatise that outlined federal science policy for the next 50 years: Science - The Endless Frontier. Given that the government had not financed in any significant way any non-agricultural research prior to WWII, Bush's report fundamentally altered the federal government's approach to scientific research. The report also strongly influenced the congressional decision to establish the National Science Foundation. Nevertheless, federal government did not implement Bush's policy recommendations, and today there is a shortness of vision to science policy planners. Just as private industry faces an enlarged need for the fruits of R&D, the …
The Quiet Reversal Of U.S. Climate Change Policy, Murray L. Weidenbaum, Christopher Douglass
The Quiet Reversal Of U.S. Climate Change Policy, Murray L. Weidenbaum, Christopher Douglass
Murray Weidenbaum Publications
This paper calls for an immediate and extensive Congressional and national debate about the scope of climate change and the role of the U.S. in addressing this issue before passing any international laws.
Government Regulation And Medium-Sized Business, Murray L. Weidenbaum
Government Regulation And Medium-Sized Business, Murray L. Weidenbaum
Murray Weidenbaum Publications
This paper attempts to analyze government regulation across the size spectrum, arguing in favor of market policies over government intrusion.
American Isolationism Versus The Global Marketplace, Murray L. Weidenbaum
American Isolationism Versus The Global Marketplace, Murray L. Weidenbaum
Murray Weidenbaum Publications
A growing paradox faces the United States. There is simultaneously a rise in support for isolationism alongside an increasing globalization of business and economic activity. Examined separately, both trends possess a certain logical appeal. After all, given the end of the Cold War, many Americans expect an increased focus on domestic issues, of which there are plenty. At the same time, a global marketplace based on international trade has arrived. This paper examines the tensions these two trends present when placed alongside one another.
A New Look At Heath-Care Reform, Murray L. Weidenbaum
A New Look At Heath-Care Reform, Murray L. Weidenbaum
Murray Weidenbaum Publications
The time is ripe for taking a new look at health-care reform. Between a free market and a governmental approach, the operation of market forces often proceeds more rapidly and more effectively in responding to serious problems than do the more ponderous decision-making mechanisms of the public sector. Indeed, often the reduction of governmental impediments to competition represents the most efficient and least costly solution. Medical care is no exception.
The Rising Presence Of Government In The Workplace, Murray L. Weidenbaum
The Rising Presence Of Government In The Workplace, Murray L. Weidenbaum
Murray Weidenbaum Publications
Debates over government regulation are often erroneously framed as a battle between business and the public interest. For government officials, however, regulation is an easy way to advance policy agendas without spending much federal money. But every time the government imposes new standards on the workplace or increases employee benefits, it imposes a more expensive method of production on businesses. Politicians are able to simultaneously vote for the better treatment of employees and criticize "greedy" companies. Consumers, meanwhile, suffer by paying for these hidden taxes.
The New Wave Of Environmental Regulation: The Impacts On Business And Consumers, Murray L. Weidenbaum
The New Wave Of Environmental Regulation: The Impacts On Business And Consumers, Murray L. Weidenbaum
Murray Weidenbaum Publications
Following the regulatory excesses of the 1970s and the reforms of the 1980s, the policy pendulum is swinging back again. On the surface, the government imposing socially desirable requirements on business seems to be a cheap way of achieving national objectives. But every time a government agency attempts to safeguard the environment or foster occupational health or promote product safety, it imposes a more expensive method of production on businesses. Consumers, meanwhile, suffer by paying for these hidden regulations.