Posts in small business
Press Release: Bring the Small Business Administration into the Twenty-First Century

WASHINGTON, D.C., June 10, 2019 — As Congress considers the first reauthorization of the Small Business Act since 2000, the Niskanen Center and the Information Technology and Innovation Foundation (ITIF) have organized a coalition letter in support of reforms that will bring the Small Business Administration (SBA) into the twenty-first century.

“The last two decades have seen a disturbing decline in the formation of young, high-growth firms,” notes Samuel Hammond, Director of Poverty Welfare Policy for the Niskanen Center. “The disappearance of small businesses that scale quickly does not bode well for the health and dynamism of the American economy. Fortunately, the bipartisan reauthorization before the Senate Committee on Small Business & Entrepreneurship contains a number of important reforms designed to reverse this trend, in addition to a suite of long-over modernizations.”

Recent work from the Niskanen Center’s Struggling Regions Initiative, headed by Mr. Hammond, and by Dr. Robert Atkinson, President of ITIF, have both highlighted the need for SBA reform. They are joined on their letter by:

Dani Rodrik
Ford Foundation Professor of International Political Economy
John F. Kennedy School of Government 
Harvard University

John W. Lettieri
Co-founder and President
Economic Innovation Group

John Dearie
Founder and President 
Center for American Entrepreneurship

Carrie Hines
President & CEO
American Small Manufacturers Coalition

Sridhar Kota
Executive Director
MForesight: Alliance for Manufacturing Foresight

Oren Cass
Senior Fellow
Manhattan Institute

Mark Muro
Senior Fellow and Policy Director
Metropolitan Policy Program
Brookings Institution

Andrew Stettner
Senior Fellow
The Century Foundation

David Adler
Co-editor of “The Prosperity Puzzle: Restoring Economic Dynamism”
XA Investments

Originally posted at the Niskanen Center.

Marco Rubio Wants a National Innovation Strategy

new report on China from the Senate Small Business Committee, now chaired by Senator Marco Rubio, is turning heads in the conservative policy world. The report details the “Made in China 2025” initiative, China’s national plan for technological and economic supremacy in a number of emerging industries. But what makes the report interesting, particularly from a Republican-chaired committee, is its suggestion that America shouldn’t merely punish China for unfair trade practices, but also should pursue a national innovation strategy of similar ambition.

“This report’s central conclusion is that the U.S. cannot escape or avoid decisions about industrial policy,” its authors write, after opening with an extended quotation from Alexander Hamilton’s “Report on Manufactures.” Then it explicitly rebukes the orthodox libertarian view that markets are “neutral” when government simply gets of the way:

States place great value on capturing high-productivity, high-labor content industries, or developing new ones. This is no new insight, for constraining the excessive possibilities of this behavior is arguably the orienting view of the World Trade Organization (WTO). States can attempt to redirect this fundamental interest by agreeing to “not select” industries, or at least not do so outside the bounds of reasonable policy difference. But even here, distinctions between competing decisions of economic value must be made.

Markets are always and everywhere structured by rules and institutions, the parameters of which shape final outcomes for society at large. That these rules should align with national priorities like strong families and decent wages for average people might seem obvious, but alas, too often it’s not…

Read the rest at NationalReview.com