Economic Growth Program

Archives: Economic Growth Program Policy Papers

Emerging Market Portfolio Globalization:

  • By Jay Pelosky
July 17, 2014
In 2014 emerging markets have shown remarkable resiliency despite negative news and record foreign investor outflows. Jay Pelosky, founder of J2Z Advisory LLC, suggests the answer lies with financial asset expansion in the emerging economies themselves—or what Pelosky calls “a rising tide of middle-class wealth.”

The Wizard of Jobs:

  • By Daniel Alpert
July 15, 2014
At first glance, the U.S job picture continues to improve with the U.S. economy generating an average of 222,000 new private sector jobs a month in the first half of 2014.  But as Daniel Alpert, a founding member of the World Economic Roundtable, explains in his latest review of America’s job market there is a more sobering reality behind these headline numbers.

What Would Minsky See Today?

  • By Daniel Alpert
June 21, 2014
Economist Hyman Minsky had the rare ability to stand back from conventional wisdom and see beyond the current market’s irrationality. In the closing dinner remarks at the Levy Economic Institute’s Hyman P. Minsky Summer Seminar, Daniel Alpert, a founding member of the World Economic Roundtable and author of “The Age of Oversupply: Confronting the Greatest Challenge to the Global Economy,” took up the question  “What would Minsky see today”?

America's Debt Problem

  • By
  • Joshua Freedman,
  • Sherle R. Schwenninger,
  • New America Foundation
June 16, 2014

Over time, the US economy has become more dependent on debt to fuel economic growth. American households, in particular, have become dependent on debt to maintain their standard of living in the face of stagnant wages. Rising levels of private debt have also fueled consecutive investment asset bubbles, whose bursting not only caused the Great Recession but also left a large and burdensome debt overhang that is still being dealt with today.

Pay More, Get Less

  • By
  • Joshua Freedman,
  • New America Foundation
April 30, 2014
The American middle class faces an uncertain future. Staring headlong into a difficult – and changing – world economy that has yet to fully recover from the Great Recession, many middle class families are trapped between low, stagnant wages and an increasingly expensive set of social and economic supports.

Driving Out of the Red with Greener Cars

  • By
  • Lisa Margonelli,
  • New America Foundation
March 24, 2014

Income inequality in California is already high, and it continues to increase. This income inequality is exacerbated by unequal access to jobs, credit, and efficient vehicles. Wages in California's Central Valley are lower than in the rest of the state, and workers there must commute long distances, with little access to alternative transportation, in older, inefficient cars. As a result, some working families in the Central Valley spend as much as a third to half of their income on fueling and maintaining their vehicle.

The U.S. Economy After The Great Recession

  • By
  • Sherle R. Schwenninger,
  • Samuel Sherraden,
  • New America Foundation
March 4, 2014
The bursting of the housing bubble in 2008 plunged the U.S. economy into a serious crisis, leaving American households with a huge debt overhang and the economy with a large gap in output and employment. This report reviews the economy’s deleveraging and recovery experience more than five years after the crash. It explores the following questions:  
  • How far has the economy come in the deleveraging process? Is private sector debt now at a sustainable level or do households and the financial sector continue to need to pay down debt?  
  • To what extent has the U.S.

Productivity and the Health Care Workforce

  • By
  • Shannon Brownlee,
  • Joe Colucci,
  • New America Foundation
  • and Thom Walsh, Dartmouth Center for Health Care Delivery Science
October 2, 2013

Productivity Measurement in the United States Health System

  • By
  • Joe Colucci,
  • New America Foundation
  • and Rick McKellar, Harvard Medical School, and Michael Chernew, Harvard Medical School
October 2, 2013

Improving productivity in health care is, unquestionably, among the most important challenges facing policy makers and health care systems. Advances in medicine have greatly improved lives over the last century and ideally will continue to do so in the future. However, medical care also consumes a rapidly increasing proportion of society’s time and resources. That trend has continued to the point that growth in health care spending is considered a drag on the remainder of the economy.

Beyond the Low Wage Social Contract

  • By
  • Joshua Freedman,
  • Michael Lind,
  • New America Foundation
September 10, 2013

The issue of low wages has moved to the center of American public debate recently, thanks to protests against the low pay of fast food workers, the large share of poorly-paying and part-time jobs that have been created in the aftermath of the Great Recession, and proposals by President Obama and others to raise the minimum wage. But while the debate may be recent, today’s low wages are neither new nor surprising. On the contrary, they are the result of decades of public policy.

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