Murray Weidenbaum Publications

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  China: A New Force in the Global Marketplace

  Murray L. Weidenbaum

  September 1997

  Policy Brief 185

  Even with problems such as energy shortages, environmental degradation, infrastructure, corruption, and crime, the Chinese economy is a force to be reckoned with. If current trends continue, China could end up being number 2, after the United States, in terms of economic output.

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  Science--The Endless Frontier: A Half Century Later

  Murray L. Weidenbaum

  February 1997

  Policy Brief 176

  In July 1945, Vannevar Bush wrote the treatise that outlined federal science policy for the next 50 years: Science - The Endless Frontier. Given that the government had not financed in any significant way any non-agricultural research prior to WWII, Bush's report fundamentally altered the federal government's approach to scientific research. The report also strongly influenced the congressional decision to establish the National Science Foundation. Nevertheless, federal government did not implement Bush's policy recommendations, and today there is a shortness of vision to science policy planners. Just as private industry faces an enlarged need for the fruits of R&D, the single largest source of funding in this area is being squeezed.

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  The U.S. Defense Industry After the Cold War

  Murray L. Weidenbaum

  April 1997

  Policy Brief 179

  The U.S. defense industry is adjusting to the end of the Cold War far more rapidly and effectively than was generally expected. Current security decision-makers can count on the presence of a strong defense industrial base. But that situation cannot be taken for granted in the years ahead and judging the industrial base capacity is challenging. It requires us to deal with international issues during a time of domestic concern, to consider military outlays in a period of budgetary austerity, and to worry about the competition for the production of weapons systems when the economy is undergoing a wave of mergers, consolidations, and downsizing.

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  Toward a Healthier Environment and a Stronger Economy: How to Achieve Common Ground

  Murray L. Weidenbaum, Christopher Douglass, and Michael Orlando

  January 1997

  Policy Study 137

  Economic and environmental interests are typically opponents in the public arena. Most efforts to bridge intellectual differences involve economists trying to get environmentalists to develop an "economic way of thinking" while conversely, ecologists attempt to sway economists toward kinder environmental values. It is time for a new approach to public policy that takes advantage of the middle ground between these two ideologies. This study presents six specific reforms that make both sound economic and environmental sense. These reforms occur within selected government spending programs, special federal tax provisions, and particular regulatory requirements.

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  What Should We Do About Global Warming? Weighing the Pros and Cons

  Murray L. Weidenbaum

  August 1997

  Policy Brief 184

  The most controversial environmental issue facing the country today is how to respond to the pressure to fight global warming by substantially reducing emissions of carbon dioxide (CO2), the leading greenhouse gas. The United States has reached a point where it is personally and professionally dangerous, if not foolhardy, to criticize in any way any proposal to "do more for the environment." Nevertheless, in advance of the massive UN Framework Convention on Climate Change meeting in Kyoto, Japan in December 1997, this paper suggests that we should examine the seriousness of the problem and the feasibility of the suggested solution.

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  An Ambitious Agenda for Economic Growth

  Murray L. Weidenbaum

  September 1996

  Policy Brief 172

  An extensive array of expenditure, tax, and regulatory reforms could help in shifting the American economy to a sustainable higher growth path. Carrying out needed changes requires more than developing attractive new programs; it also means making a continuous stream of hard choices.

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  Four Approaches to Tax Reform

  Murray L. Weidenbaum

  April 1996

  Special 4

  This report explains four alternatives to the income tax: the flat tax, the saving-friendly USA Tax, a national sales tax, and a value-added tax.

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  Government Regulation and Medium-Sized Business

  Murray L. Weidenbaum

  March 1996

  Contemporary Issues Series 77

  This paper attempts to analyze government regulation across the size spectrum, arguing in favor of market policies over government intrusion.

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  Is This The Healthiest Economy in Three Decades?

  Murray L. Weidenbaum

  March 1996

  Policy Brief 166

  The same people who would not admit a real economic recovery was underway in 1992 are reluctant to acknowledge that this same recovery is now old and tired in 1996. Only 31% pf the adult population is satisfied with the economy. Over one-half of Americans believe that the country is "headed in the wrong direction." For the most part, the data support these sentiments, from slowed GDP and productivity growth to increased worker insecurity. Policymakers need to take their own Hippocratic oath: First, do no harm. At the same time, they cannot sit idly by either.

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  Neoisolationism and Global Realities

  Murray L. Weidenbaum

  May 1996

  Policy Study 130

  The United States needs to take the necessary actions to make American business and labor more productive and, thus, more competitive. Tax Reform, regulatory reform, liability law reform, and a modern labor policy can help achieve those goals.

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  The Employment Act of 1946: A Half Century of Experience

  Murray L. Weidenbaum

  April 1996

  Policy Brief 169

  The enactment of the Employment Act of 1946 established the Council of Economic Advisers and the congressional Joint Economic Committee. This paper discusses the role each has played since then involving economic policy.

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  The Future of China: Three Scenarios

  Murray L. Weidenbaum

  November 1996

  Contemporary Issues Series 84

  This article looks at the rise of China as a world power and how this will impact American businesses.

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  The Quiet Reversal of U.S. Climate Change Policy

  Murray L. Weidenbaum and Christopher Douglass

  November 1996

  Contemporary Issues Series 83

  This paper calls for an immediate and extensive Congressional and national debate about the scope of climate change and the role of the U.S. in addressing this issue before passing any international laws.

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  Abolish the Department of Commerce Now

  Murray L. Weidenbaum

  July 1995

  Occasional Paper 156

  Many people believe that the Department of Commerce has outlived its usefulness. Eliminating the whole department is one way for the federal government to reduce unnecessary costs and regulation. Certain divisions that are essential could be slimmed down and moved to other departments.

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  American Isolationism versus the Global Marketplace

  Murray L. Weidenbaum

  November 1995

  Policy Brief 161

  A growing paradox faces the United States. There is simultaneously a rise in support for isolationism alongside an increasing globalization of business and economic activity. Examined separately, both trends possess a certain logical appeal. After all, given the end of the Cold War, many Americans expect an increased focus on domestic issues, of which there are plenty. At the same time, a global marketplace based on international trade has arrived. This paper examines the tensions these two trends present when placed alongside one another.

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  A New Look at Heath-Care Reform

  Murray L. Weidenbaum

  February 1995

  Occasional Paper 148

  The time is ripe for taking a new look at health-care reform. Between a free market and a governmental approach, the operation of market forces often proceeds more rapidly and more effectively in responding to serious problems than do the more ponderous decision-making mechanisms of the public sector. Indeed, often the reduction of governmental impediments to competition represents the most efficient and least costly solution. Medical care is no exception.

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  Government Policy and Small Business Financing

  Murray L. Weidenbaum

  April 1995

  Special 3

  Small businesses are hurt by government policy and regulation.

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  It's Time to Cut Government Regulations

  Murray L. Weidenbaum and Melinda Warren

  February 1995

  Contemporary Issues Series 70

  This piece shows how the costs of regulation affect consumers and recommends that Congress should conduct benefit-cost analyses when proposing regulation.

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  It's Time to Cut Government Regulations

  Murray L. Weidenbaum and Melinda Warren

  January 1995

  Occasional Paper 147

  Congress should establish a committee on regulatory reform. Changes that would be helpful include: 1) require benefit-cost analysis for new regulation; 2) enforce a fixed timetable for agencies to issue permits; 3) emphasize objectives sought rather than precise methods to be used; 4) use risk assessment for achieving environmental, health, and safety protection; and 5) promote regulatory justice.

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  Needed: An Armey Commission on the Budget

  Murray L. Weidenbaum

  December 1995

  Policy Brief 162

  The idea of a balanced budget is a fine start on the path towards governmental fiscal stability. The much harder task comes in identifying the specific spending cuts that should be made and attracting sufficient public support for such tough action. Currently, powerful interest groups are able to push very hard for the particular spending programs that benefit them. One solution to this problem would be to refer budget cuts to a bipartisan, blue-ribbon commission. Congress would then be required to vote up or down on the entire package, without opportunity to make exceptions for specific programs.

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  Tax Reform: Reconciling Economic Growth and Fairness

  Murray L. Weidenbaum

  December 1995

  Policy Brief 163

  The emerging debate on fundamental tax reform in the United States is focused too narrowly. The key disagreement currently is between promoting economic growth and maintaining fairness via a progressive tax structure. Alarmingly, most of the reform proposals which have gained attention do eliminate the progressivity which has been a long-term hallmark of the federal income tax system. This paper demonstrates that it is possible to achieve both objectives while making basic improvements in the federal revenue structure.

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  The Nunn-Domenici USA Tax: Analysis and Comparisons

  Murray L. Weidenbaum

  May 1995

  Occasional Paper 152

  A comparison showing the pros and cons of different tax plans: the USA Tax Plan, a Flat Tax, Value-Added Tax, and Retail Sales Tax.

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  A New Social Contract for the American Workplace: From Paternalism to Partnering

  Murray L. Weidenbaum and Kenneth W. Chilton

  November 1994

  Policy Study 123

  As American business struggles to cope with global competition, technological breakthroughs, and various forms of deregulation, the workplace is being thrown into turmoil. Against this backdrop, 1994 is also on pace to set a record for publicly announced downsizings, most of them justified under the banner of "restructuring." This study is the first comprehensive look at this evolving picture.

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  Heath-Care Policy

  Murray L. Weidenbaum

  February 1994

  Special 2

  This paper examines the Clinton health-care reform proposal.

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  How Domestic Regulation Handicaps U.S. Global Business

  Murray L. Weidenbaum

  September 1994

  Occasional Paper 142

  Regulatory reform would benefit private industry. Some suggestions include: benefit-cost analysis, risk assessment, and emphasizing objectives to be achieved rather than precise methods to be used in complying with regulation.