The existence of vigorous market competition should not be taken for granted, as it often can be undermined both by public policy and natural economic forces. There are many ways in which competition can be impaired, such as when state policymakers subsidize large existing firms rather than support new businesses, or adopt unnecessarily strict licensing rules that limit the ability to work or when network effects make it difficult for startups to offer new services. However, carefully considered policy reforms can unleash competitive forces, thereby strengthening the link between economic progress and rising living standards.
On June 13, The Hamilton Project at the Brookings Institution hosted a forum to explore the most effective policy options to foster a more dynamic and competitive economy. The forum featured introductory remarks by former U.S. Treasury Secretary Robert E. Rubin, and a fireside chat between Steve Case, chairman and CEO, Revolution; and Jason Furman, professor of the practice of economic policy, Harvard Kennedy School.
The forum also included two roundtable discussions and a research presentation, featuring: Terry McAuliffe, 72nd Governor of Virginia; Terrell McSweeny, former Commissioner, Federal Trade Commission; John C. Haltiwanger, distinguished university professor, Dudley and Louisa Dillard professor of economics, University of Maryland; Robert Seamans, associate professor, NYU Stern School of Business; Megan J. Smith, CEO, shift7 and 3rd U.S. CTO; Joshua Gans, Jeffrey S. Skoll chair of technical innovation and entrepreneurship, Rotman School of Management, University of Toronto; Aaron Chatterji, associate professor, Duke Fuqua School of Business; and Stacey Vanek Smith, co-host, The Indicator and correspondent, Planet Money, NPR.
