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Economics
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Blueprint for America

The American ability to inspire--which we call exceptionalism--is not automatic. It takes continued efforts to be realized in a changing world. In this series, scholars at the Hoover Institution--professors, thinkers, and practitioners of global renown in their respective fields--offer a series of accessible policy ideas for civic, economic, and security architecture that would shore up the long-term foundations of American strengths.

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Managing governmental spending, guiding private enterprise, maintaining global alliances, and educating the next generation are America’s top priorities that have not changed over time. However, good governance is needed to sustain and realize these long-term goals.

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Economic policies are the critical foundation for raising living standards, growing government revenue for necessary national purposes, and reducing social conflict. 

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America needs to support the State Department in its mission to maintain a strong diplomatic presence that preserves and ensures global stability and peace.

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The United States is close to achieving energy independence for the first time in decades, but it should go further to achieve energy security.

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While there are often economic, healthy, safety, or environmental reasons for regulating the economy, it is important to keep in mind that many regulations impose costs and stifle competition.

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The future of the United States economy depends on expanding educational attainment, which requires a renewed emphasis on producing, rewarding, and retaining great teachers.

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The Federal Reserve should return to a rules-based monetary policy in order to promote economic growth and stability.

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To create a peaceful and prosperous world, the United States needs to maintain a flexible, yet clearly defined security strategy.

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Equity-financed banking would make the financial system innovative, competitive, and immune from bank runs that cause financial crises.

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The United States faces a fiscal challenge unlike any in its history, driven entirely by spending on federal entitlement programs.
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By giving consumers the incentive to seek value with their money and facilitating competition among doctors and hospitals, the cost of care will go down while quality, access, and choice will improve.

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The primary goal of America’s tax code should be to raise the revenue to finance the necessary functions of government in the least distortionary manner possible.

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Free trade allows Americans to buy better goods at lower prices and more immigration leads to economic growth, more employment, and improvements in our standard of living.