June 10, 2024
The Economic World We’ve Lost
Populism has infected both major parties in the United States, leading to policies that previous generations of economic policymakers would immediately recognized as foolhardy and counter-productive. But whether the country can escape its self-destructive pessimism is anyone’s guess. WASHINGTON, DC – The past decade has brought a sea change in US economic policy, and not…
June 4, 2024
What Comes After Neoliberalism?
The steep tariff increases on Chinese goods that US President Joe Biden’s administration recently announced are just the latest in a long string of interventionist economic policies that fly in the face of decades of neoliberal orthodoxy. And the Biden administration is hardly alone: a growing number of governments, economists, and institutions are rethinking the…
December 18, 2023
The State of Democratic Capitalism: 2023
How to assess the health of democratic capitalism in the United States? Fundamentally, it is very strong. The marriage of democratic politics and a free-market economy continues to strengthen each, with free markets generating the employment opportunities and prosperity that lead to widespread support for our political system and the rule of law, strengthen democratic…
December 14, 2023
The Myth of the 1%
The skewing of income toward the top 1% of earners has become a central issue in American politics, with both Republicans and Democrats proposing higher taxes on the rich. But new research finds that it may not be true, suggesting that policymakers would do better to focus more on helping the working class. WASHINGTON, DC—For…
November 13, 2023
The Jobless AI Future Is Still a Long Way Off
Tech billionaire Elon Musk recently prophesied that there “will come a point where no job is needed,” owing to advances in artificial intelligence. But the fear that AI will cause mass unemployment is rooted in a zero-sum mentality that fundamentally misunderstands how economies evolve. WASHINGTON, DC – In a recent discussion with British Prime Minister Rishi…
October 17, 2023
What Poor Children Need
When it comes to helping poor children in America grow up to enjoy successful adult lives, progressives and conservatives each have half the truth on their side. There is strong evidence to support both broad public spending programs and policies designed to encourage personal responsibility and stable households. What is the best way to help…
September 15, 2023
Why Industrial Policy Fails
With Democrats and Republicans alike supporting a shift from free markets toward government planning, the United States has clearly entered a new era of economic policymaking. Yet all the reasons why such strategies generally fail to make good on politicians’ promises are as valid as ever. WASHINGTON, DC – Industrial policy is all the rage…
December 15, 2022
The Myth of Income Stagnation
According to the conventional wisdom, income stagnation and inequality are large and growing threats to broad-based prosperity in the United States. Many economists, journalists, business leaders, and elected leaders (from both parties) believe that for a large share of households, real (inflation-adjusted) income has not increased for decades, and that income inequality – the gap between higher- and lower-income households –…