If/Then
How Taxes Influence Innovation
Mar 5, 2025
In this conversation, Rebecca Lester, an associate professor of accounting at Stanford Graduate School of Business, dives into how tax incentives shape innovation and business strategy. She highlights how subtle policy changes can drive monumental decisions in R&D and investment. From clean energy advancements to the impacts of tariffs, the discussion reveals the ripple effects of tax policy on global competition and economic growth. Lester emphasizes the importance of crafting effective tax strategies that align with future innovation needs.
25:06
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Quick takeaways
- Tax incentives not only influence corporate strategies but also shape broader economic trends and innovation landscapes across various industries.
- Changing tax provisions can disincentivize research and development, potentially hindering long-term innovation and economic competitiveness.
Deep dives
Default Choices and Climate-Friendly Behavior
Changing default choices can significantly affect behavior and promote climate-friendly actions. An example given is a coffee shop that switched its standard milk to oat milk instead of dairy, resulting in a substantial reduction in dairy consumption and its associated carbon footprint. Similarly, a study at Harvard and UCLA found that when plant-based meals were set as the default option at events, two-thirds of attendees opted for them without requesting meat. This demonstrates the concept of choice architecture, where the way options are presented can lead to more sustainable choices.
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