business

Will the Republicans or the Democrats be the 'Party of Growth'?

Amity Shlaes has a very interesting commentary on Bloomberg. Shlaes responds to the Sanford scandal this way:

…instead of blowing up their marriages, Republicans might try blowing up their party platform.

The single most-profitable franchise for the Republican Party is growth, the kind of growth that sustains the relative competitiveness of the U.S. Instead of being the GOP, the Republicans should become the POG, the Party of Growth.

This growth franchise is Republicans’ for the taking because the Democratic Party leadership is in hot pursuit of other franchises — the green biz, civil rights and their dearest goal, more government health care.

The growth franchise is also valuable because a lot of people, including many Democrats, recognize that a growth agenda is the only way to preclude a crisis worse than the current one. That crisis is the currency crisis that will occur if the world no longer wants to invest here.

Shlaes has four suggestions for making “the GOP a POG.”

— Junk the social conservatism. — Take budget-balancing seriously. — Push for growth-oriented tax cuts, the kind that make foreign businesses want to expand here. — Stand up for property rights.

Leaving aside the specifics of her proposals, I think Shlaes raises an important question: Will the Republicans or the Democrats become the Party of Growth? Right now, it’s up for grabs.

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