America does not suffer from a shortage of economic policies. It suffers from the absence of a unifying long-term economic doctrine that survives changes in administration and organizes the nation’s economic policies around a single strategic objective: expanding America’s productive capacity. Without that doctrine, America risks making good individual policy decisions without achieving a great national economic outcome. What it lacks is the strategic framework that aligns those policies behind one national objective: building America’s next era of prosperity.

For years, America’s economic conversation has revolved around inflation. Every consumer price index report becomes breaking news. Every Federal Reserve meeting generates speculation about interest rates. Financial markets react immediately. Businesses adjust expectations. Those conversations matter because inflation affects every person.