Despite low unemployment and economic growth, young Americans are losing faith in the American Dream and free market capitalism.
To combat economic pessimism, it is not enough to educate young adults about the benefits of free enterprise to society as a whole. Rather, young people must be taught how they can personally achieve economic success and resilience through career development, personal effort, and entrepreneurship.
Educating young adults on economic basics, as well as teaching them the life-skills necessary to economically emancipate themselves is a core mission of Lone Star Policy Institute.
At LSPI, we understand that free enterprise is critical to human flourishing. So, LSPI supports free market and market-oriented solutions to public policy across various fields
Economic empowerment is the only sustainable way to eliminate personal poverty and improve one’s economic opportunities. State and local lawmakers should unshackle Texans from burdensome occupational licensing laws and regulations that make it too expensive for entrepreneurs from starting their own business, and even skilled workers from entering the workforce. Moreover, we should refrain from any state or local minimum wage laws that prohibit businesses from hiring more employees. At the end of the day, the best social program is a job – so any artificial barriers that state and local governments have put in place to make it harder for Texans to enter the workforce should be removed.
Our state’s high sales and property taxes also negatively impact our state’s poorest. While not as easy to see the impact on the surface, the taxes families pay everyday on food, gas, and other essentials quickly add up and make it that more difficult to have the quality of life they deserve – let alone the ability to create a decent savings. Texas’s high property taxes make rent poor expensive as the burden of these taxes on the home and apartment owners are passed down to the families that rent them. And for those Texans trying to live the American dream and purchase their first home, that barrier to entry is that much steeper due to the taxes they need to hand over in addition to mortgage payments.
Technological innovation and market-oriented practices are decentralizing technology and challenging crony capitalism. Texas should lead the nation in free-market oriented policies that foster the sharing economy, enable a more efficient utilization of private property resources, and enable skilled individuals to pursue careers with limited regulations.
As the nation’s top exporter, Texas relies on trade. The Lone Star state has a diversified economy that is interconnected with the global economy. As a leading manufacturer, Texas benefits from a stable international supply chain with our North American neighbors and other trading partners. Texas exports a diverse array of products including manufactured goods, technologies, petrochemical products, and agricultural goods. In addition, Texas consumers enjoy the benefits of low cost consumer and agricultural goods from our trading partners.
LSPI understands that free trade benefits Texas and the United States. We are advocates for sound trade policies that foster international commerce, create jobs, and benefit consumers