Peter Calcagno, professor of economics and director of the Center for Public Choice and Market Process, spoke to the South Carolina Small Business Regulatory Review Committee on August 14 at its monthly meeting.
Calcagno presented “Economic Financial Incentives: Market Friendly vs. Business Friendly” to the Committee, which is made up of 11 business owners who have volunteered their time to review current regulatory issues facing small businesses. The members have the ability to either work with the agency of the General Assembly, when necessary, or assist in getting an alternative regulation adopted if it appears that the regulation puts undue pressure on small business.
In his presentation, Calcagno advocated that targeted financial incentives are not a productive policy for promoting economic growth. Rather, he posited that policies benefiting business across the board – both existing and new firms – should be implemented.
“We need to encourage policy makers to create policies that make South Carolina a state in which all business would want to operate their firms,” said Calcagno. “The economics literature is very clear that providing targeted subsidies benefits large firms without delivering the economic growth promised.”
Calcagno’s research interests lie in public choice economics, political economy and public finance.
“The success of small businesses is critical to the economic development of South Carolina,” said Alan T. Shao, dean of the School of Business. “Peter’s leadership of the Center for Public Choice and Market Process and his industry insights are incredibly beneficial to the state’s progress on this important matter.”
About the Center for Public Choice & Market Process
Founded in the fall of 2008, the Initiative for Public Choice & Market Process became a Center in 2015. The Center advances the understanding of the economic, political and moral foundations of a free market society. The Center supports the growth and development of teaching and research at the College of Charleston School of Business while engaging students and the Charleston community. Visit the Center’s website or our Facebook page to learn more about events, programs, and funding opportunities, or contact Peter Calcagno, Center director, at firstname.lastname@example.org or 843-953-4279 for more information.