The U.S. economy in recent years has been characterized by slow average productivity growth and increasing productivity dispersion within industries. These trends have coincided with analogous changes in wages—slow average wage growth and greater wage inequality between workers. In this essay, I discuss research into the potential causes of these patterns and outline several […]
The American economic system has always been the foundation of our national strength. But this foundation is showing cracks—from high levels of income inequality, declining economic mobility, and persistent economic insecurity among low- and middle-income 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 pursuit of economic opportunity for all Americans is as important to the health of the country’s economy as it is to the strength of its democracy. The promise that hard work and determination will yield economic success is a central American ideal, but it has been called into question as secular economic forces […]
The federal government’s fiscal and monetary responses to the economic crisis caused by the COVID-19 pandemic have been unprecedented. However, we argue that as many of the enacted fiscal measures begin to expire over the next two months, continued policy action will be needed to promote economic recovery. This report puts forward a set of […]
Overview: The U.S. budget trajectory is in uncharted territory. The country faces a structural deficit, accrued the largest increase in debt on record during the current economic recovery, and is expected to surpass its WWII-era debt-to-GDP record of 106 percent within the next 30 years. Gale argues that although historically low interest rates reduce the […]
The 2016 election heightened an ongoing debate in the United States about how best to respond to two of the foremost economic challenges of the current era: stagnant wages and a dearth of promising career prospects for American workers without a bachelor’s degree. These challenges persist despite a dramatic increase in recent decades in […]