To stimulate economic growth and spur job creation, business leaders will have to find ways to work with Washington legislators instead of writing them off as ineffective.
At a recent conference about U.S. economic growth and job creation convened by the Brookings Institution, one business leader after another expressed deep frustration with our dysfunctional federal government. It became clear that the U.S. business community is confronted with a fundamental choice: Ignore Washington or work with it to fix the problems plaguing our economy.
There is strong sentiment, particularly among technology entrepreneurs, that the government is ineffective at best, irrelevant at worst — and therefore it should be ignored. While these sentiments are understandable, this attitude is self-defeating. Even if the private sector and local governments do everything right, it won’t be enough. Only Washington can provide key drivers of our competitiveness — from a sustainable macro-economic policy, pro-growth tax code, prudent spending, sensible regulation, and market-opening trade treaties to smart public investments in education, infrastructure, and research.
There’s really no alternative: business leaders must set aside their disappointment with our national political institutions and instead work to fix them.
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Source: Glenn Hutchins and William Galston | Fortune