There’s growing discontent amongst Americans over the growing divide between haves and have nots. But it’s not because there’s anything wrong with capitalism says John Taylor, Economist at Stanford University. Speaking at the Milken Institute’s Global Conference Taylor tells TheStreet it’s the environment that capitalism is working within. Government policies are discouraging economic growth. Low investment is adding to slow growth translating into slim productivity gains. However, changing tax policies and reducing regulation could reverse this. Along these lines, Taylor thinks the first thing the new U.S. president should tackle is tax reform followed by regulatory reform, especially monetary reform.
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