Business & Job Creation
Businesses need a friendly and fair business environment so they can compete, innovate, and create jobs. We’re keeping politicians from playing favorites by offering special deals and tax breaks to the favored few.
First the bad news: Arizona’s per capita personal income is eleventh lowest among the states and is 14 percent lower than the national average. But there’s also good news: In the past, Arizona’s per capita income has been closer to the national average and there is no reason it cannot be again.
New Goldwater Institute Analysis Shines Light On “Academic Detailing”
Blogger Mike McClellan criticizes the Goldwater Institute and me specifically for our estimate that the 1-cent sales tax rate increase would cost Arizonans 14,000 to 20,000 jobs. He cites the increase in the number of jobs in the state over the last two years and recent predictions that job growth will pick up as evidence of how wrong we were. There’s just one problem with McClellan’s thesis; it has no basis.
On the Liberty Law Talk podcast, host Richard Reinsch talks with Clint Bolick, Vice President of Litigation at the Goldwater Institute, about his book Death Grip: Loosening the Law’s Stranglehold over Economic Liberty. Bolick, of course, is no stranger to litigating constitutional claims for economic liberties and property rights, among other achievements.
Last week, the U.S. Department of Labor released employment data for all 50 states. Arizona has done reasonably well since March 2011, adding 47,000 non-farm jobs. That’s a growth rate of around 2 percent and puts Arizona among the top 10 states.
Recent news from the solar industry includes headlines about Germany cutting solar subsidies and Arizona-based First Solar laying off 30 percent of its employees.
Pharmaceutical sales are coming under criticism based on what appear to be legitimate but rare abuses of pharmaceutical salespeople promising more from a drug than they should and doctors allowing themselves to be pressured into prescribing. Unfortunately, these isolated incidents are being held up as evidence of the need for vast new government intrusion and regulation of the pharmaceutical industry’s marketing practices. While certainly well intentioned, these efforts are likely to negatively affect doctors and patients.
National news headlines of companies like Solyndra and other government energy subsidies gone wrong are not the only stories of the renewable energy lobby bleeding taxpayers dry. For years, the same special interests have benefitted from the “Renewable Energy Standard” Rule (REST) implemented by the Arizona Corporation Commission, by which a certain percentage of the state’s energy portfolio must come from so-called “renewables.”
Part one of Ayn Rand’s Atlas Shrugged ends in despair, as the oil fields of entrepreneur Ellis Wyatt burst into flames. Wyatt Oil, once a successful business that created jobs and launched an economic Renaissance in the western United States, had fallen victim to stifling taxes and government regulation. No longer willing to surrender to bureaucrats, Wyatt abandons his once-thriving business.
Applications for the Foundation for Economic Education's Summer Seminars are now open! The Freedom University series in Atlanta, GA, is designed to introduce college students to Austrian economics, history, and current events. The Advanced Austrian seminar will take place at FEE's headquarters in Irvington, NY, and two high school seminars will be held in Salt Lake City, UT. This year we’ll also put on a new seminar for FEE alumni, Communicating Liberty, in Atlanta.