Is slow economic growth the new normal? Not necessarily, according to an October policy analysis from the Cato Institute, but growth has become more difficult. The report, writes Reason senior editor Peter Suderman, argues that slow growth is likely to continue if present policies remain in place. Today's public policy infrastructure, according to the analysis, is "rife with barriers to entrepreneurship, competition, innovation, and growth," not to mention subsidies that tilt the playing field in favor of incumbents, complicated and poorly designed tax rules, and legal mechanisms that obscure price signals.
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