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  • About
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    • ECON 2302-Princ of Micro
    • ECON 3352-Energy Eco

Make America Great Again by Strengthening Institutions: Let People Prosper Episode 52

11/9/2018

 
In this Let People Prosper episode, let's discuss how the recent election gives us insight on how we need more civil discourse to find ways to strengthen institutions so people can flourish. 

My recent paper on how institutions matter provides a good overview of what I discuss in this episode along with economic data to support the theory. Here is a graphic that explains rather well the ecology of human development. 
Picture
The data provide overwhelming evidence that the Texas Model of inclusive institutions with a relatively low tax-and-spend burden, no individual income tax, and sensible regulation provides an institutional framework supporting more job growth, higher wages, lower income inequality, and less poverty than in comparable states and the U.S., in most cases. Texas is doing something right. Other states and D.C. would be wise to consider adopting Texas’ inclusive economic and political institutions that champion individual liberty, free enterprise, and personal responsibility.
Picture
This is a path to providing an economic environment that allows entrepreneurs the greatest opportunity to thrive and for prosperity to be generated for the greatest number of people. Despite this success, improvements are needed to keep the Texas Model competitive and create even more opportunities for all to flourish. These improvements to Texas’ institutional framework include:

• limiting the growth in government spending,
• eliminating the state’s onerous business franchise tax,
• reducing barriers to international trade,
• reducing the escalating burden of property taxes, and
• relieving Texans from burdensome occupational licenses.

​Even with these improvements, the data overwhelmingly show it was not a miracle in Texas, but rather abundant prosperity generated by Texans from a proven institutional framework called the Texas Model. ​

By strengthening institutions to let people prosper, we can also engage in more civil discourse so that we have many opportunities to work together. 

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    Vance Ginn, Ph.D.
    Chief Economist
    ​TPPF
    ​#LetPeopleProsper

    Dr. Ginn is a free-market, classical liberal economist with  a passion for providing abundant opportunities for people to prosper, which includes promoting policy rules and removing government barriers.

    He grew up in South Houston, Texas where he attended private school, public school and home school, was a hard rock drummer, and was a first generation college graduate from Texas Tech University.

    Dr. Ginn's a recovering academic and a public policy nerd. 

    Follow me on Twitter: @vanceginn. 

    View my profile on LinkedIn

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