Amid the likely Donald Trump vs. Hillary Clinton general election run, many voters have expressed discontent over the current state of the economy. Stanford economics professor John Taylor says the problem can't be put at the feet of capitalism.
"I don't think anything is wrong with capitalism," he says. "It's this environment that capitalism is working within. It has to do with the government policies, some of which discourage certain aspects of capitalism. I think the one thing that's most telling is, we have very low growth. A lot of that is because of regulations in the economy, other things the government does."
Aside from less regulation, Taylor says changes to tax policy were a potential way to juice up the economy, specifically by lowering corporate tax rates, along with monetary policy reform.
When asked about the biggest economic issue the next president should take on, he cites tax reform.
"The complexity of the individual tax [code], that really holds people back," he says.
For the second issue, he again emphasizes the effects of regulations, saying regulatory reform should be taken up. He says elected officials and policy makers should "try to reduce the number of large regulations that are harming the economy.