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 our country’s long-term economic strength will slowly deteriorate because of an unsustainable fiscal trajectory that leaves future generations worse off.
Amidst a resurgence in COVID-19 caseloads and continuing economic devastation from the pandemic, we urge Congress to enact legislation that focuses on the core measures necessary to provide additional fiscal relief as quickly as possible and no later than the end of this calendar year.
Kearney and Mogstad argue that, in practice, a UBI would be an extremely expensive, inefficiently targeted, and potentially harmful policy that would solve none of the economic challenges it purports to address.
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.
The United States government should take up a position of world leadership on ending the global COVID-19 pandemic through vaccine outreach to the world. Such an effort would serve a clear humanitarian purpose. It would represent forward defense of our security interests by slowing the virus’s rate of mutation. No other action would so clearly […]
It's not a new idea, but few could have predicted that talk about universal basic income (UBI) would be receiving as much attention as it is today — especially among candidates for president of the United States.
The COVID-19 pandemic is at once threatening American lives, the sustainability of our nation’s health care system, and our economic prosperity. Our paramount concern at this moment should be to slow the spread of this virus and equip our health care system to effectively respond. Saving lives and saving the economy are not in conflict right now; […]
MICHAEL A. NUTTER is a former two-term mayor of Philadelphia who previously spent nearly 15 years in the Philadelphia City Council. Since leaving public office in 2016, he has remained active in public policy, government, and civic life. He is the inaugural David N. Dinkins Professor of Professional Practice in Urban and Public Affairs at […]
ROBERT E. RUBIN served as United States Treasury secretary from 1995 to 1999 under President Bill Clinton. He began his career in finance at Goldman, Sachs & Company and ultimately served as co-chairman. Rubin joined the Clinton administration in 1993 as the first director of the White House National Economic Council. He served as a […]