Panel, Conference Presentation
Lunch Panel - Gary Becker and Mike Milken on the Marketplace of Ideas
- The organization expects to relocate the sports panel to the Beverly Hills Ballroom immediately following the current session and host an annual State of the State conference on October 13, 2011.
- Upcoming conferences include Partnering for Cures in New York from November 6 to 8 with a first-time event in New Jersey, a London event at Heron Tower during the week of November 14, 2011, and a 15th anniversary global conference at the Beverly Hilton Hotel from April 29 to May 2.
- Projections anticipate the creation of 4 to 5 million new jobs by attracting 1 to 4 million highly educated entrepreneurial individuals and wealthy people.
- Human capital is expected to drive economic progress globally, particularly in developing nations utilizing imported technologies and foreign direct investment, while central planning is viewed as inefficient and a failure.
- Competitive industries are predicted to reduce discrimination by prioritizing talent over race or religion to maximize profits, whereas government-driven or crony capitalism is considered ineffective for the average person.
- Social security and Medicare costs are expected to be significantly reduced by raising the retirement age to 70 over the next 10 to 15 years and setting a permanent standard at 85 percent of life expectancy.
- A decline in human capital is noted in the United States, with 25 to 30 percent of young men dropping out of high school, particularly among minority groups, necessitating a push for higher completion and enrollment rates.
- The United States is forecasted to lag behind other countries if it fails to improve high school graduation and higher education attainment, especially for young men.
- Immigration policy is expected to shift toward skilled opportunities, with a proposal to allow anyone barring terrorists to immigrate upon paying a $50,000 fee or utilizing an income-based loan program.
- A $50,000 annual fee for one million immigrants is projected to generate $50 billion for the government budget while reducing political opposition to immigration.
- Health care policy is expected to require individuals to bear responsibility for their coverage and pay risk-based premiums to incentivize healthy behavior, countering the moral hazard of government-covered costs.
- Education is expected to yield long-term economic rewards in approximately 15 years, though current immigration bureaucracy is deterring educated Asians from moving to the United States.
- Raising the retirement age and increasing competition are anticipated to address economic growth and social equity, while basic economic principles are viewed as universally applicable regardless of culture.