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President Bill Clinton's National Economic Adviser addresses the main issues that were at the center of debate in Bush's second term: Social security reform, outsourcing, and deficit reduction. After two consecutive elections in which Democratic candidates failed to turn clear economic advantages into electoral victory, a debate is raging over what the Democrats should do now. The narrow, red state-blue state argument between chest-beating populists and soulless centrists offers the answer to neither the country's economic future nor the political future of the Democrats. In The Pro-Growth Progressive,President Clinton's longest-serving national economic advisor, Gene Sperling, argues that the best economic strategy for our nation—and the best strategy for progressives whether they be Democrat, Republican, or Independent—is to pursue policies that are both progressive and pro-growth, that promote progressive values of upward mobility, fair starts, and economic dignity as well as embrace markets and innovation. Sperling describes how both parties offer the American public impoverished choices: Democrats in the-sky-is-falling party too often pretend that the way to promote progressive values and expand the American middle class is to slow the pace of the global economy, stop all outsourcing, and intervene in the market. Republicans of the don't-worry-be-happy party hold fast to the bankrupt vision that the best thing for economic growth is the smallest government possible, and have made the conservative deficit hawks of the 1990s an endangered species. But The Pro-Growth Progressive is neither an all-out assault on the Bush agenda nor a partisan call for Democrats to move further left. Both conservatives and progressives have to accept hard truths about the limitations of their approaches. Drawing on his years of policy experience, Sperling lays out a third way on the issues that are dominating the news and Bush's second term: social security, ownership, globalization, and deficit reduction. He explains the policy alternatives that respect the power of free markets while giving government a role in ensuring that the markets benefit all working families. Focused and timely, The Pro-Growth Progressive offers a realistic vision of free enterprise and economic growth in which government can improve education, reduce poverty, and restore the country to fiscal sanity.
“Timely and important . . . It should be our North Star for the recovery and beyond.” —Hillary Clinton “Sperling makes a forceful case that only by speaking to matters of the spirit can liberals root their belief in economic justice in people’s deepest aspirations—in their sense of purpose and self-worth.” —The New York Times When Gene Sperling was in charge of coordinating economic policy in the Obama White House, he found himself surprised when serious people in Washington told him that the Obama focus on health care was a distraction because it was “not focused on the economy.” How, he asked, was the fear felt by millions of Americans of being one serious illness away from financial ruin not considered an economic issue? Too often, Sperling found that we measured economic success by metrics like GDP instead of whether the economy was succeeding in lifting up the sense of meaning, purpose, fulfillment, and security of people. In Economic Dignity, Sperling frames the way forward in a time of wrenching change and offers a vision of an economy whose guiding light is the promotion of dignity for all Americans.
The authors observe that consumption taxation is superior to income taxation because it does not penalize saving and investment and propose that the U.S. income tax system be completely replaced by a progressive consumption tax. They argue that the X tax, developed by the late David Bradford, offers the best form of progressive consumption taxation for the United States and outline concrete proposals for the X tax's treatment of numerous specific economic issues.
“Urgent work, by the foremost champion of ‘progressive capitalism.’ ” —The New Yorker An authoritative account of the dangers of unfettered markets and monied politics, People, Power, and Profits shows us an America in crisis. The American people, however, are far from powerless, and Joseph Stiglitz provides an alternative path forward through his vision of progressive capitalism, with a comprehensive set of political and economic changes.
Politicians, economists, and Wall Street would have us believe that limitless economic expansion is the Holy Grail, and that there is no conflict between growing the economy and protecting the environment. Supply Shock debunks these widely accepted myths and demonstrates that we are in fact navigating the end of the era of economic growth, and that the only sustainable alternative is the development of a steady state economy. Starting with a refreshingly accessible, comprehensive critique of economic growth, the author engages readers in an enormous topic that affects everyone in every country. Publisher's Weekly favorably compared Czech to Carl Sagan for popularizing their difficult subjects; Supply Shock shows why. Czech presents a compelling alternative to growth based on keen scientific, economic, and political insights including: The "trophic theory of money" The overlooked source of technological progress that prevents us from reconciling growth and environmental protection Bold yet practical policies for establishing a steady state economy. Supply Shock leaves no doubt that the biggest idea of the 20th century – economic growth – has become the biggest problem of the 21st. Required reading for anyone concerned about the world our children and grandchildren will inherit, this landmark work lays a solid foundation for a new economic model, perhaps in time for preventing global catastrophes; certainly in time for lessening the damages.
Our tax system is a mess. And the reason for that mess is, our tax system is incoherent. A well-designed tax system is like a good jigsaw puzzle: all the pieces fit together snugly, so when the whole thing is fully assembled, it forms a coherent picture. But our current tax system is disjointed, with parts that don't logically fit together. That results in inconsistencies, complexity, loopholes, and distorted incentives. We need a tax system that make sense. As this book shows however, making a traditional income tax coherent is an impossible goal. But coherence is achievable if we adjust our target, and complete the switch to a consumed-income tax -- a system that taxes all income, not when it is earned, but when that income is consumed. The move towards a consumed-income tax was begun decades ago, when we first adopted IRAs and other tax-deferred savings accounts. We just needed to complete the evolution. The book explores a variety of tax issues -- among them savings, small businesses, owner-occupied houses, and corporations -- and develops seven groups of recommended changes. These changes would result in a tax system that would be pro-growth, by eliminating the existing disincentives to saving and investment. But the tax system would also remain progressive, with the wealthy taxed as much as and perhaps even more than currently. That combination could make the recommended changes attractive to members of both parties, and might bring to a close the political seesaw in tax policy that we've experienced over that last several decades.
This book provides insight into how San Francisco's progressive coalition developed between 1975 and 1991, what stresses emerged to cause splintering within the coalition, and how it fell apart in the 1991 mayoral campaign. DeLeon analyzes the success and failures of the progressive movement as it toppled the business-dominated pro-growth regime, imposed stringent controls on growth and development, and achieved political control of city hall.
NATIONAL BESTSELLER What would actually make America great: more people. If the most challenging crisis in living memory has shown us anything, it’s that America has lost the will and the means to lead. We can’t compete with the huge population clusters of the global marketplace by keeping our population static or letting it diminish, or with our crumbling transit and unaffordable housing. The winner in the future world is going to have more—more ideas, more ambition, more utilization of resources, more people. Exactly how many Americans do we need to win? According to Matthew Yglesias, one billion. From one of our foremost policy writers, One Billion Americans is the provocative yet logical argument that if we aren’t moving forward, we’re losing. Vox founder Yglesias invites us to think bigger, while taking the problems of decline seriously. What really contributes to national prosperity should not be controversial: supporting parents and children, welcoming immigrants and their contributions, and exploring creative policies that support growth—like more housing, better transportation, improved education, revitalized welfare, and climate change mitigation. Drawing on examples and solutions from around the world, Yglesias shows not only that we can do this, but why we must. Making the case for massive population growth with analytic rigor and imagination, One Billion Americans issues a radical but undeniable challenge: Why not do it all, and stay on top forever?
The Fund has recognized in recent years that one cannot separate issues of economic growth and stability on one hand and equality on the other. Indeed, there is a strong case for considering inequality and an inability to sustain economic growth as two sides of the same coin. Central to the Fund’s mandate is providing advice that will enable members’ economies to grow on a sustained basis. But the Fund has rightly been cautious about recommending the use of redistributive policies given that such policies may themselves undercut economic efficiency and the prospects for sustained growth (the so-called “leaky bucket” hypothesis written about by the famous Yale economist Arthur Okun in the 1970s). This SDN follows up the previous SDN on inequality and growth by focusing on the role of redistribution. It finds that, from the perspective of the best available macroeconomic data, there is not a lot of evidence that redistribution has in fact undercut economic growth (except in extreme cases). One should be careful not to assume therefore—as Okun and others have—that there is a big tradeoff between redistribution and growth. The best available macroeconomic data do not support such a conclusion.
Karl Polanyi’s The Great Transformation is generally acclaimed as being among the most influential works of economic history in the twentieth century, and remains as vital in the current historical conjuncture as it was in his own. In its critique of nineteenth-century ‘market fundamentalism’ it reads as a warning to our own neoliberal age, and is widely touted as a prophetic guidebook for those who aspire to understand the causes and dynamics of global economic turbulence at the end of the 2000s. Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi’s ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation, but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancient and archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi’s daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi’s thinking will appeal to students and scholars across the social sciences, providing a refreshing perspective on the roots of our current economic crisis.