April 3, 2012 as published at reason.com
In his new book, First Principles: Five Keys to Restoring America’s Prosperity, Stanford University professor of economics John B. Taylor, details the not-so-secret ingredients to rebuilding American’s economic future: predictable policy, rule of law, strong incentives, reliance on markets, and a clearly limited role for government. “America can be great again, economically speaking,” Taylor explains, “it’s just more recently where we’ve gone off track.”
Taylor sat down with Reason Magazine Managing Editor Katherine Mangu-Ward to discuss his book, the principles that underlie America’s economic supremacy and what’s gone wrong over the past decade. Video of interview here.