The 4% Growth Project

If the economy grew at 4% per year, we would create 10 million additional jobs during the next decade, returning the economy to full employment through growth alone, with no rise in government spending.

The 4% Growth Project

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Fear of Exports?

By Matthew Denhart

Since when has the U.S. been afraid of exports? Since now, apparently.

How Uncertainty Damages Markets

By Robert Asahina

Fear and greed: To most financial advisers, not much more is required to explain the behavior of investors.

Changing How We Pay Teachers

By Ike Brannon

We do a lousy job of compensating teachers. It’s not that we pay them too little, but the way we compensate them makes little sense in today’s world.

Taxes Hurt Competitiveness Abroad

By Ike Brannon

Public Radio’s “

What We're Reading

Forbes

Obama Has Been Dealt A Spectacular Energy Hand: He Should Play It

Thursday, May 23, 2013

Fear of exports? It would seem Adam Smith settled the export question more than 200 years ago when he showed that everyone gains through trade with low-cost producers. The U.S. government, however, currently has a freeze on natural gas exports to countries without a free-trade agreement, including major markets like Japan, China, India, and much of Europe, and a 37-year-old ban on exporting nearly all crude oil as well.

National Journal

Export More LNG to Fight Climate Change

Wednesday, May 22, 2013

American consumers and businesses are currently reaping a windfall from the lowest natural gas prices in years. Cheap gas has reduced heating and electric bills for millions of households, while industries using natural gas as a feedstock or boiler fuel have realized huge production cost savings. But at the same time $4.00 gas at the wellhead, though double last year’s price, has caused many drilling companies to reduce production and move their rigs to more profitable oil plays.

The Washington Post

Let Artists, Innovators and the Public Define our Copyright System

Tuesday, May 21, 2013

Robert Goodlatte (R-Va.), the chairman of the House Judiciary Committee, has vowed to conduct a comprehensive review of our nation’s copyright laws to determine whether they are “still working in a digital age.” That’s a long overdue task. But there’s a danger that the process will be dominated by a handful of special interest groups that have long been reflexively hostile to technological progress.

The Wall Street Journal

Natural Gas Exports, Maybe

Tuesday, May 21, 2013

President Obama can't seem to decide whether America's unconventional oil and gas revolution is good for the country, which is resulting in passive-aggressive government. Witness last week's approval of a new natural gas export terminal that may not be a real approval.

U.S. GDP +2.3%
U.S. Job Growth +2.7M
U.S. Durable Goods +2.5%
U.S. Corp. Profits +4.4%
U.S. RDPI $32,700
U.S. Household Income -2.0%
U.S. Productivity +1.2%
Global GDP +2.5%
Euro GDP -0.9%
China GDP +7.6%
India GDP +5.5%
U.S. Financial Trust 21%
U.S. Math Achievement No. 25 of 34
Gold 5 yr. Change +147%
U.S. Interest in Tax Reform -6%
3 yr. U.S. Govt. Spending +1%

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GROWTH SNAPSHOTS

Foreign Exchange Rate: Euros

(U.S. Dollars/Euro)
Real Gross Domestic Product

(Billions of chained 2005 dollars, seasonally adjusted annual rate)
Civilian Unemployment Rate

(Seasonally adjusted percentage of unemployed persons 16 years and over)
Civilian Employment/Population Ratio

(Seasonally adjusted percentage of employed persons to population, 16 years and over)
Light Vehicle Sales

(Millions of units, seasonally adjusted annual rate)
FHFA House Price Index

(Seasonally adjusted, with January 1991=100)
Average Hourly Earnings: Total Private Industries

(Dollars/hour, seasonally adjusted)
Misery Index

(Civilian unemployment rate + inflation rate)
Inflation Rate

(Change over the last 12 months in the Consumer Price Index - all urban consumers, not seasonally adjusted)
Industrial Production Index

(Seasonally adjusted, with 2007=100)
Five-Year Change in Gold Price

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