Policy Memo

By / 7.30.2014

Is Australia ready for the digital economy? This is obviously a subject of great debate, intertwined with decisions about investments in the National Broadband Network and public concerns about data privacy. It is clear that some parts of the Australian digital economy, notably mobile communications, are quite vibrant. Two recent reports from the Australian Communications […]

By / 5.29.2014

Nowhere is America’s chronic underinvestment in infrastructure more visible than in the nation’s transportation systems, which present a sorry picture of crumbling bridges, congested freeways, shabby airports, crammed transit and slow freight and passenger trains. We strive to be a first-class economy, but we cannot achieve that status with second-rate infrastructure. To put America back […]

By and / 4.24.2014

Seldom has the world stood poised before economic changes destined to bring as much palpable improvement to people’s lives and desirable social transformation as “big data.” Breathless accounts abound of the huge amounts of data that citizens, consumers and  governments now generate on a daily basis in studies ranging from the French Prime Minister’s Commissariat […]

By / 4.24.2014

We show in this paper that the architecture of the Internet dictates that current trade statistics significantly underestimate the magnitude and growth of cross-border data flows. As a result, the contributions of cross-border data flows to global growth and to small businesses are being significantly underestimated. This suggests that trade and tax policy should place more emphasis […]

By / 4.9.2014

Across the political spectrum there is broad agreement that tax reform is long overdue. Yet reform remains an elusive goal—not just in Washington, but also at the state level. Ideological standoffs, the excessive influence of special interests, the impending midterm elections, and mistrust of government are just some of the road blocks to reform. This […]

By / 3.13.2014

EXECUTIVE SUMMARY Proposals to regulate the Internet are often presented as “new” solutions to deal with modern problems, but the most significant of these proposals, such as “network neutrality” and common carrier rules on unbundling and interconnection, are actually vestiges of long-outmoded ways of thinking about telecommunications policy. This paper explores the relevant regulatory history, […]

By and / 9.19.2013

For too long, U.S. policymakers have focused narrowly on boosting consumers’ buying power, assuming that the productive end of the economy will take care of itself. Yet the last decade of slow growth shows that debt-driven consumption is not a sustainable strategy for expanding economic opportunity or lifting U.S. living standards. In contrast, a high-growth strategy requires strong investment—private and public—in […]

By / 9.12.2013

The United States and the other major advanced economies are currently stuck in a seemingly endless twilight of slow growth. The numbers are ugly: The April 2013 forecast from the International Monetary Fund predicts that economic growth in Europe will average only 1.7% over the next five years. Japan is projected to average only 1.2% […]

By and / 5.9.2013

The natural accumulation of federal regulations over time imposes an unintended but significant cost to businesses and to economic growth. However, no effective process currently exists for retrospectively improving or removing regulations. This paper first puts forward three explanations for how regulatory accumulation itself imposes an economic burden, and how this burden has historically been […]

By / 4.12.2013

It’s easy enough to get progressives to agree that austerity is not the answer to the malaise that pervades the transatlantic world. What’s hard is to forge consensus around a new vision for reviving the west’s economic dynamism. One reason is that the policies necessary to put the United States and Europe back on a […]