VIDEO: Donald Trump’s legislative revolution | GIS: Global Trends Video Reports
The media’s obsession with election conspiracies, dossier who-done-its, and geopolitical expletives supposedly muttered in private is overshadowing recognition of the dramatic shift in regulatory policy during U.S. President Donald Trump’s first year.
Trump’s regulatory revolution
For all the sound and fury in the media over the Trump administration, there has been little recognition of the dramatic shift in regulatory policy over the past year. President Trump has ended many of his predecessor's most burdensome rules on business and has slashed red tape. He has also implemented new policies that require administrative bodies to scour for unnecessary or harmful regulations. It is a radical departure from the status quo, but many legal and institutional challenges stand in the way of even deeper change.
Irrational tax and regulatory systems
The true story of the Paradise Papers is less about shady business deals than about the byzantine regulatory and tax structures of developed countries. It is a lesson that politicians like French President Emmanuel Macron are studiously trying to ignore.
The EU’s failed financial tax: good and bad news
Negotiations on a proposed tax on financial transactions in the European Union have stalled. The so-called “Tobin tax” is unlikely to come about in any meaningful form across the bloc. But its defeat also demonstrated the failure of the EU’s “enhanced cooperation” procedure, which could have provided a useful model for less centralized policymaking.
Cronyism puts democracies and markets at risk
Behind the malaise afflicting Europe’s democracies and economies is an overlooked cause: cronyism. Big government can encourage businesses to seek favors from politicians and regulators. When that happens, the accountability needed for markets and democracies to function properly disappears. It is time to view crony capitalism as a systemic threat.
Market economies, regulation and crony capitalism
The global economic crisis arose in the world's most highly regulated sector – the financial industry. That is certainly no coincidence. When government intervention and easy money meet big banks, the result is cronyism – the furthest thing from genuinely free markets.
Productivity is no free lunch
Europe is worried about low and declining productivity growth. Most politicians and experts have a simple solution: more high-tech investments and more education, especially for young people. But it is questionable whether this proposed fix is realistic or will bring about the desired outcome. The educational visions that...