The House of Representatives is expected to vote on the BULB Act this week, which was introduced by Representatives Joe Barton (R–TX), Michael Burgess (R–TX) and Marsha Blackburn (R–TN). The legislation would repeal Subtitle B of Title III of the Energy Independence and Security Act of 2007—the phase-out of the …
The economic theory of “creative destruction” is important when understanding the value innovation has on long-term economic growth. Popularized by Austrian economist Joseph Schumpeter, the theory says the short and long-term benefits of entrepreneurial activity and competition will far outweigh the short-term losses caused by a new product replacing an …
