A dynamic economy is not an end in itself. Rather, it is the consequences of dynamism that make the American brand of capitalism a better choice than our own “stakeholder capitalism”. The main benefit of an innovative economy is a higher level of productivity, resulting in higher hourly wages and [...]
As a native German, I read with great interest a recent Wall Street Journal article by Edmund Phelps, Columbia University’s 2006 Nobel Prize winning economist. In the piece, Dynamic Capitalism , Phelps favorably compares the American model of free enterprise with the “stakeholder-driven capitalism” favored by most EU countries. He [...]
The phrase has been a popular refrain here at the Internet Governance Forum. While it certainly sounds good, it is being used to justify everything from tweaking copyright law to outright theft. Jamie love and many from the audience of a plenary on Openness brought up the topic of [...]
The U.S. has a reputation of being entrepreneurial relative to other countries. The AEI event I attended yesterday was a book forum for Carl Schramm's new book The Entrepreneurial Imperative. The event focused on why entrepreneurs are important (they spur innovation) and how Washington policy helps and hurts entrepreneurial activity [...]
Last week I was in Richmond to participate in a focus group to help the Virginia courts system run better through IT (it's good to see governments using information technology to help citizens--I'm for limited government, not Luddite government). Virginia recently created a commission to look 10-15 years into the [...]