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Driving Economic Growth Through Innovation
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Innovation is essential for economic growth, with total factor productivity (TFP) being a key driver for long-term development. The article underscores the influence of regulations and policies on innovation, showcasing instances from the Biden administration and California. It advocates for pro-growth measures such as light-touch regulation, tax incentives, free-trade agreements, and immigration reforms to uphold the US's leadership in innovation.
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How do regulations influence the pace of innovation in different sectors?
How might a lack of innovation impact a nation's global competitiveness?
What specific initiatives can countries implement to foster a culture of innovation?
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