Autonomous vehicles are the future of transportation, but so far, the United States is unprepared for them. Congress needs to act swiftly to establish consistent industry regulations that allow companies to safely test and deploy these vehicles, or it risks delaying their arrival.
January 2, 2020
As the Trump administration implements the Foreign Investment Risk Review Modernization Act, the most important thing it should consider is that the Committee on Foreign Investment in the United States (CFIUS) should treat Chinese acquisitions of U.S. companies fundamentally different than acquisitions from our allies.
December 16, 2019
Fact of the Week: A 10 Percent Reduction in Tariffs on Intermediate Goods Increases Productivity Growth by 1.9 Percent, an Impact 6.5 Times Greater Than the Same Reduction on Final Goods
Prior to last week’s progress toward an interim trade deal with China, the United States had repeatedly delayed the expansion of tariffs on Chinese goods to most finished products. This was out of concern that such an escalation would hit U.S. consumers harder than existing tariffs on the intermediate goods that serve as inputs for companies to make their final products.
December 13, 2019
California’s recently enacted data privacy law is an ill-advised model for the rest of the country. It is critical that Congress move forward with bipartisan federal legislation to create a single national standard for data privacy that balances consumer welfare and innovation.
December 9, 2019
Fact of the Week: A 10 Percent Increase in Public Investment in Defense R&D Increases Private R&D Investment by 4.3 Percent
Defense spending is the main source of public R&D investment in the United States, totaling $78 billion in 2016. A new study examines the impacts of defense R&D investment by leveraging the dramatic increases in defense R&D investment across the OECD in the years following 2001.
December 4, 2019
While law enforcement needs tools to protect the public, requiring companies to provide access to encrypted consumer data would have the unintended consequence of putting vulnerable populations at risk without solving law enforcement’s most significant challenges in using digital evidence.
December 2, 2019
Fact of the Week: Doubling the Intensity of Investment in Robots Increases an Industry’s Labor Productivity by 6.9 Percent, on Average
Automation boosts labor productivity, which is key to long-run economic growth. A new study examines the impact of automation on labor productivity in nine manufacturing industries across 12 European countries from 1995 to 2005, comparing the number of robots in use in an industry with the amount it invests in non-ICT capital.
November 27, 2019
Mission Innovation—a commitment by the world’s major powers to accelerate innovation in emissions-cutting technologies—has been virtually forgotten. Worse, its signatories are not living up to its terms.
November 25, 2019
Fact of the Week: A 40 Percent Reduction in U.S. Drug Prices Would Lead to as Much as 60 Percent Fewer Novel Compounds Reaching Clinical Testing
Proponents of capping drug prices often dismiss concerns about the impact on pharmaceutical R&D by pointing to the fact that drug prices are much lower internationally than in the United States. But this reasoning fails to consider that price restrictions in other countries have made pharmaceutical companies disproportionately reliant on revenue from the United States.
November 18, 2019
Fact of the Week: Every 10 Percent Increase in Broadband Access in China has Increased Productivity by 1.1 Percent and Wages by 4.2 Percent
Since 2011, the U.S. government has spent over $400 million to provide broadband Internet access to 1.6 million people. A recent study investigated the impact that policies like these can have by examining the construction of broadband infrastructure across China, finding that every 10 percent increase in a region’s infrastructure increased firms’ productivity by 1.1 percent and workers’ wages by 4.2 percent.