My new paper on “Reviving Jobs and Innovation: The Role of Countercyclical Regulatory Policy” was just released by the Progressive Policy Institute.
A short summary:
Now that the midterm election is over, will the Republican House, the Democratic Senate and the White House agree on a policy for stimulating the economy and creating jobs for Americans?
If Washington is willing to think beyond conventional policies, there is a surprising option for stimulus–one that could be acceptable to both parties and appropriate to today’s innovation-driven economy. I call it ‘countercyclical regulatory policy’. The idea is simple: To achieve sustained job growth, we should do everything we can to encourage those innovative, dynamic and emergent sectors of the economy that are currently producing jobs.
Countercyclical regulatory policy is an essential part of showing that both Democrats and Republicans are serious about jobs and growth for Americans. Politically and economically it becomes untenable to say we support innovation and jobs, and then proceed to impose onerous new regulations on precisely those domestic industries that are the top performers.
Read the whole paper here.