Governments must take an active role in designing and enforcing economic policies to address various problems that pure market forces cannot, such as externalities and the absence of risk markets. Covid-19 has exposed deficiencies in current arrangements and the need to develop better institutions. ...
Failure to address the problem will mean either massive tax increases, big benefits cuts, or ever-larger levels of red ink. Now let’s connect the dots regarding Trump and these two bits of background information. Both the House and the Senate are pushing to expand an already-bankrupt Social...
Commission on Workforce Quality and Labor Market Efficiency, Investing in People: A Strategy to Address America’s Workforce Crisis. A Report to the Secretary of Labor and the American People, U.S. Department of Labor, September 1989. Google Scholar Council of Economic Advisers, Economic Report...
That treatment begins with a theory of perfect markets, follows with a theory of market failures, and follows that with conjectures about actions government might take to resolve the market failure. By that reasoning, government failure occurs when state interventions exacerbate, or simply fail to r...
Government expenditures to address a disease outbreak include appraisal, cleaning and disinfection, disposal, euthanasia, indemnification, quarantine, inspections, and vaccination. Unfortunately, accurate and precise estimates of these costs collected systematically for livestock—and animals in general—are ...
The risks that had previously stalled domestic companies were fragmentation and low demand, so any intervention would have to address that risk. Part of the task fell to Mike Brown at the Defense Innovation Unit: “Encouraging a domestic industry is one thing we took on at DIU via the Blue ...
California desperately needs the money to proactively address climate change impacts, and there really is no other funding source. Critically, it also benefits disadvantaged communities: at least 40% of funds must be used in lower-income communities most impacted by climate change. Just about every...
we need to realize that we have the power to change for the better. the current approaches to how government manages its people are not carved in stone. we need fresh thinking to address the issue of how the public sector delivers value. we should embrace the power of technology to amplify...
Instead, I’m referring tomy long-held viewthat a failure to address the problem ofrunaway entitlement spendinginevitably will lead to massive tax increases. And because there arenot nearly enough rich people to finance big government, that tax increaseoverwhelmingly will fall on lower-income and ...
Rational expectations models do not generally address this kind of question. The theoretical arguments of Bohn (1998) and CCD focus on Woodford's definition of equilibrium and policy regimes; that is, they focus on the fiscal response necessary to satisfy the transversality condition and assure a ...