Markets for the People
American Enterprise Institute
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Rapid globalization and technological change have left too many Americans behind, but the failure of Bidenomics is a reminder that doubling down on industrial policy is not the solution. In a new essay for National Affairs, AEI economist R. Glenn Hubbard proposes a revitalized free-market policy agenda that could rebuild opportunity and prosperity for all Americans.
The task of rebuilding opportunity extends beyond straightforward economic policy. Also writing in National Affairs, Center on Opportunity and Social Mobility Director Scott Winship analyzes Americans’ own understandings of the American Dream to show that rebuilding families and social capital is essential to tackling the grievances that have driven populist resentment.
In these efforts to preserve and strengthen the American Dream for the next generation, will artificial intelligence be an asset or a threat? In another essay in the new issue of National Affairs, AEI Economic Policy Director Michael R. Strain makes the case for AI optimism and proposes a policy agenda to secure AI’s transformative benefits without leaving Americans behind.
The American economy’s strength and dynamism are also among our greatest assets in our competition with China. Even though the US has managed its debt irresponsibly, a new AEI report from Derek Scissors reveals that China’s own colossal debt mismanagement has crippled its chances to surpass America economically.
Before joining AEI, President Robert Doar led social services programs in New York state and New York City for over 20 years. In a new essay for the Journal of Policy Analysis and Management, coauthored with Maria Cancian, dean of Georgetown’s public policy school, Doar draws from these experiences to explain why child support enforcement remains an essential policy tool for children and parents and how Republicans and Democrats can work together to improve it.
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3moThe free market ideology died in 2008 when it was shown to be what it really was - “bail out economics”. For Glenn to say that we need “customized interventions” is just an attempt to go back to unfettered markets and tweak the system as politicians wish. Many in Congress can’t even agree on who won the last election, and you want them to drill down and micromanage the entire economy? And giving TFG credit for Covid 19 solutions is devoid of facts. So he wants us to basically “trust me” to get it right this time? Sorry, but too many lobbyists and other power grabbers with their thumb on the scale to believe in such an ad-hoc private ordering ideology to work. Its premise, market equilibrium, at best is punctuated. Glenn is selling repackaged 1980s Friedman 20th century ideology. It’s over. The Great Recession and Covid ended it. Good riddance. Let’s move forward in the 21st century.