SEARCH: Economic Strategy Group

Causes, Consequences, and Policy Responses to Market Concentration

Overview: Measures of market concentration in many U.S. industries have been rising for nearly four decades. Since the early 2000s, these trends have coincided with a falling labor share of income, declining private investment, and rising corporate profit rates and markups (the difference between price and marginal cost). Philippon argues these patterns are unique to […]

New York Times: How to Get Americans to Love Capitalism Again

Originally published in New York Times. American capitalism is at a serious inflection point. Many Americans, including the two of us, are alarmed by enormous levels of inequality and by declining economic mobility. We are concerned that in many cases American markets are no longer the most competitive in the world. And, we worry that […]

Economic Strategy Group Member Statement, December 2019

Aspen Economic Strategy Group (AESG) Member Statement December 2019 We, the undersigned members of the AESG, have collectively worked at the highest levels of the policy, business, government, academic, and civic communities. We believe that our nation’s economic policies need to be adjusted so that more people participate more fully in our economic success. We […]

Washington Post: Americans are being left behind. Here’s how we fix it.

Originally published on Washington Post. Many Americans are being left behind by today’s modern, global economy, and they are justifiably angry about it. Growing numbers of people feel our economic and political systems are rigged against them. And it’s no wonder why. Recent progress in low- and middle-income wage growth is a blip against decades […]

The Link Between Wages and Productivity Is Strong

  Much of the public debate in recent years suggests that wages are not primarily determined by productivity. Indeed, the argument that the link between compensation and productivity has been effectively severed is commonly made. In this paper, I first discuss the wage-setting process and the conceptual issues that are of critical importance to any […]

Can Innovation Policy Restore Inclusive Prosperity in America?

Overview: US productivity growth¬—the engine of long-run wage growth—has been lackluster for the past decade. Meanwhile, US public investment in research and development (R&D), is near historic lows. Although private sector R&D investment has increased over time private sector funding is insufficient to bring about desired gains in productivity growth and wages. Van Reenen argues […]

The Faltering Escalator of Urban Opportunity

David Autor is the Ford Professor of Economics and Co-Chair of the MIT Task Force on the Work of the Future. This report was produced in collaboration with the MIT Task Force on the Work of the Future.  SUMMARY: Since 1980, college-educated workers have been steadily moving into affluent cities while non-college workers have been […]

Expanding Economic Opportunity for More Americans

Over the course of the past year, the Aspen Economic Strategy Group collected policy ideas to address the barriers to broad-based economic opportunity and identified concrete proposals with bipartisan appeal.

The Challenges of Leveraging Online Education for Economically Vulnerable Mid-Career Americans

  Economic and technological change has made lifelong learning more important than ever and partly explains the rise of online education, the flexibility of which appeals to mid-career Americans. Most existing online education appears to result, however, in poor learning and labor market outcomes. Promising models of low- cost, high-quality online education are only now […]

Wealth Taxation: An Overview of the Issues

Overview: Recent wealth tax proposals put forward by Democratic presidential candidates Senator Elizabeth Warren and Senator Bernie Sanders would impose an annual tax on the net worth of the wealthiest Americans. The proposed wealth tax rates are in the range of 2 to 8 percent per year. Although those tax rates might appear low, they […]