Tufts recently released the report, Digital Planet: Readying for the Rise of the e-Consumer. This report focuses on a metric called the ‘Digital Evolution Index’ and compares countries, based on their ‘current digital index’ and the ‘digital growth rate’ in the last few years.
The paper got me thinking about some high level policy and what we can deregulate to help attract entrepreneurs.
1. Deregulate immigration. Diversity is important, once you start to filter, you’ll bound to filter out talent too.
2. Deregulate the labour market. Let the employer decides the best incentive / payment scheme.
3. Deregulate tax & fees. Create a separate Act — it’s inequitable and a huge distortion to economic behaviour by applying big company rules to small businesses.
4. Deregulate protectionist industries. Monopolies are inefficient & governments can’t protect them forever, the hip pocket wins at the end of the day.
5. Deregulate investment. The Government can sell gambling licences but won’t let people invest or crowdfund equity? Absurd.
There are still a lot of microeconomic reform ideas…