The chairman of FedEx Corporation, Frederick W. Smith, has posted the text of the speech he delivered on December 5, 2023 at the Calvin Coolidge Presidential Foundation Gala. It is worth a look for a sense of what is on the mind of a self-described "center-right corporate executive."
Some of it is surprising, such as a call for an "energy value added tax" that he says would "produce a new broad-based stream of revenue while incenting individuals and businesses to become more energy efficient." Part of the revenues "should cover a reduction in income taxes for those earning less than $100,000 per year, which will encourage people to rejoin the workforce which will increase GDP and tax revenues."
Smith also says, "the U.S. should pursue free trade agreements among those willing to abide by a common set of rules and enjoy the benefits of free and fair trade. ... the U.S. should focus on a free-trade agreement with the UK and the EU, especially considering the recent war in Ukraine and reinvigoration of NATO. Labor standards are in rough
balance, the rule of law is strong, and industrial capabilities are substantial in these two enormous economic spheres. Any such effort with the UK and the EU would not preclude similar agreements with other countries and regions." In terms of "labor standards," as I understand it, it is much more difficult to fire an employee in parts of Europe than it is in the United States. But Frederick Smith does a lot more business in Europe than FutureOfCapitalism does. Anyway, I find this newsworthy and worth passing along. Not endorsing it, just flagging it as interesting.