Your current web browser is outdated. For best viewing experience, please consider upgrading to the latest version.
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
search DONATE
Close Nav

Startup Boom Is the Kind of Risk-Taking Americans Need

back to top
commentary

Startup Boom Is the Kind of Risk-Taking Americans Need

Bloomberg Opinion January 31, 2022
EconomicsOther

A government that's too protective stifles innovation and productivity, when mostly it should just get out of the way.

There is often an instinct after a big economic shock to retreat from risk. Usually that means government adopting policies that accept risk on behalf of individuals. The Great Depression was followed by the New Deal; the Great Recession yielded the Affordable Care Act. It's no surprise that the pandemic brought Build Back Better, which aimed to expand the welfare state even further.

The future of the bill is uncertain, but no matter what replaces it, the move to siphon more risk from Americans’ lives at this point is a mistake. Some risk reduction has been valuable in the past, but today we are at a critical moment where more will cause harm. Rather than take risk out of the economy we need to add more in, especially for low-income people and the middle class.

Continue reading the entire piece here at Bloomberg Opinion (paywall)

______________________

Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.

Photo by Maxger/iStock

Saved!
Close