Murray Weidenbaum Publications

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  A Bipartisan Approach to Economic Policy

  Murray L. Weidenbaum

  December 1991

  Occasional Paper 100

  Government needs to invest more in an expanding economy. This can be done by 1) devoting more of the budget to civilian R & D, education, and infrastructure; 2) restoring growth incentives such as an investment tax credit; 3) eliminating double taxation of dividends; 4) providing economic rationality to expanding government regulation; and 5) dealing with the inadequate education of a large portion of the labor force.

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  Regionalization Versus Globalization of World Trade

  Murray L. Weidenbaum

  December 1991

  Occasional Paper 98

  The European Community and the Asian Rim conduct the majority of their trade within their own regions. But international commerce is having more and more impact on the global economy.

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  Technology and Economic Performance: A Different View of the Federal Role

  Murray L. Weidenbaum

  September 1991

  Occasional Paper 94

  This paper addresses the key issues in determining what government policy should be in the development and use of technology.

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  Technology and Economic Performance: A Rejoinder

  Murray L. Weidenbaum

  September 1991

  Special 1

  Government needs to create a more favorable economic climate in order for research and development to improve.

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  The Business Response to the Global Marketplace

  Murray L. Weidenbaum

  March 1991

  Occasional Paper 88

  This piece shows the challenges facing American business in the global marketplace.

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  The Future of the U.S. Defense Industry

  Murray L. Weidenbaum

  July 1991

  Occasional Paper 90

  The U.S. defense industry is at a fork in the road and faces the prospect of substantial declines. There are two approaches that can be taken: Convert to civilian production or cut back and slim down. Conversion has a great deal of appeal, as it keeps the jobs of defense workers in place. The cut-back alternative is an austerity measure designed to maintain the financial health of the defense firms. The purpose of this paper is to provide some guidance in the selection between these two alternatives.

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  The New Wave of Environmental Regulation: The Impacts on Business and Consumers

  Murray L. Weidenbaum

  August 1991

  Occasional Paper 93

  Following the regulatory excesses of the 1970s and the reforms of the 1980s, the policy pendulum is swinging back again. On the surface, the government imposing socially desirable requirements on business seems to be a cheap way of achieving national objectives. But every time a government agency attempts to safeguard the environment or foster occupational health or promote product safety, it imposes a more expensive method of production on businesses. Consumers, meanwhile, suffer by paying for these hidden regulations.

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  The Rising Presence of Government in the Workplace

  Murray L. Weidenbaum

  November 1991

  Occasional Paper 96

  Debates over government regulation are often erroneously framed as a battle between business and the public interest. For government officials, however, regulation is an easy way to advance policy agendas without spending much federal money. But every time the government imposes new standards on the workplace or increases employee benefits, it imposes a more expensive method of production on businesses. Politicians are able to simultaneously vote for the better treatment of employees and criticize "greedy" companies. Consumers, meanwhile, suffer by paying for these hidden taxes.

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  How To Trim the Deficit Without Raising Taxes

  Murray L. Weidenbaum

  August 1990

  Occasional Paper 84

  This article argues that raising taxes to reduce the budget deficit ignores an effective alternative: trimming unnecessary government spending.

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  Introduction to The Modern Corporation and Private Property

  Murray L. Weidenbaum

  September 1990

  Working Paper 134

  In their introduction to the new edition of The Modern Corporation and Private Property, Weidenbaum and Jensen critically assess the impact of developments not fully anticipated by Adolf Berle and Gardiner Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation. They note the authors' prescient observations, including the complex role of and motivating influences on professional managers, and the significance of inside information on stock markets.

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  The Changing U.S. Economic Outlook

  Murray L. Weidenbaum

  October 1990

  Occasional Paper 85

  Economist Murray Weidenbaum presents his outlook on the U.S. economy as it transitions from the longest peacetime expansion in its history to an economic recession.

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  The Myth of the Hollowed-Out Corporation

  Murray L. Weidenbaum

  March 1990

  Contemporary Issues Series 37

  This piece discusses the future of American manufacturing.

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  The New Wave of Business Regulation

  Murray L. Weidenbaum

  December 1990

  Contemporary Issues Series 40

  This paper argues that increased regulations lead to increased production costs and therefore higher prices for the average American.

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  The U.S. Economy and George Bush: A Midterm Review

  Murray L. Weidenbaum

  November 1990

  Occasional Paper 86

  Following the Reagan presidency, the Bush, Sr. administration has been dealing with reducing huge budget deficits. Corporations will be facing increased foreign competition from the European Community and the Asian Rim nations. But, even with these difficulties, the American economy is still a model followed by other countries.

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  The Weak Case for Conversion Legislation

  Murray L. Weidenbaum

  February 1990

  Occasional Paper 79

  This paper analyzes the feasibility of a so-called "defense conversion" that would transfer defense technology to civilian uses, concluding that such a transfer would be a difficult and undesirable public policy.

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  Threats and Opportunities in the International Economy

  Murray L. Weidenbaum and Mark Jenson

  July 1990

  Formal Publication 100

  The United States remains a military and an economic superpower. But in order to compete in the international economy, Americans need to be a well-educated citizenry.

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  What is the Right Energy Policy for America?

  Murray L. Weidenbaum

  September 1990

  Contemporary Issues Series 39

  Addressed are the nation's options for energy policies heading into the 1990s and the need for less government regulation and more market interactions for price-setting. Such a policy should also include the full environmental costs to production as a way to help reduce excessive energy usage.

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  Defense Spending and the American Economy: How Much Change Is In the Offing?

  Murray L. Weidenbaum

  December 1989

  Occasional Paper 78

  With the end of the Cold War looming, this essay argues that military spending has been decreasing for years and that any future reductions to the defense budget are likely to only have a modest impact on the economy.

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  Filling in the Hollowed-Out Corporation: The Competitive Status of U.S. Manufacturing

  Murray L. Weidenbaum

  September 1989

  Occasional Paper 77

  This paper looks at the status of American manufacturing in 1989, given falling costs to production, improvements in product quality, and a surge in research and development.

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  Improving Competitiveness, Congressional Style

  Murray L. Weidenbaum

  August 1989

  Occasional Paper 76

  Seemingly in order to demonstrate its concern with huge trade deficits, Congress passed the Omnibus Trade and Competitiveness Act of 1988. While the object of the legislation is ostensibly to reduce trade deficits and enhance American competitiveness, the new statute actually responds to all sorts of pressure groups. This report examines the impact of the new trade law on a multitude of government agencies.

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  Protecting the Environment: Harnessing the Power of the Marketplace

  Murray L. Weidenbaum

  May 1989

  Formal Publication 92

  Americans want a cleaner environment but do not necessarily want to pay more or be inconvenienced. Economists feel that providing economic incentives to manufacturers to reduce pollution can be helpful.

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  The Allure of Value-Added Taxes: Examining the Pros and Cons

  Murray L. Weidenbaum and Ernest S. Christian Jr

  February 1989

  Formal Publication 89

  Compared to most other developed Western nations, the United States relies far less heavily on consumption-based taxes. In practice, much of the impact of shifting to a higher consumption tax would depend on how the tax is structured. The two major policy alternatives are an expenditures tax levied on total purchases within an accounting period or a value-added tax collected on each purchase.

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  The American Economy: Is a Turning Point at Hand?

  Murray L. Weidenbaum

  July 1989

  Occasional Paper 74

  American businesses are making adjustments to the global marketplace. Politically, the big question is whether or not the Cold War is finally ending. Can the United States successfully shift key resources to the civilian economy? Will the lower military demand lead to a worldwide recession or will it free up resources for a period of stronger growth? There are signs of a potential slowdown in the short term. In the long term, open markets seem to be prevailing, with three dominant clusters emerging: Europe, U.S./Canada, and the Pacific rim.

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  The Case Against Another Business-Government Partnership

  Murray L. Weidenbaum

  June 1989

  Occasional Paper 73

  This policy paper examines the myths surrounding business-government partnerships or federal bailouts. It also provides some insights into what does work in their place. Democratic political systems were not built to make critical choices between particular firms or industries in a competitive market. Business-government partnerships do just that.

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  America's Rendezvous With Reality

  Murray L. Weidenbaum

  November 1988

  Contemporary Issues Series 30

  This piece deals with finding solutions to economic policy problems after the Reagan Administration.