Introduction: Strengthening America’s Economic Dynamism
Global tensions and domestic discontent are driving a new era of economic policymaking. Leaders in both parties are turning away from free-market principles and endorsing an increase in protectionist trade policies and more active government-directed industrial policy. Further, these disruptions come when the country’s economic and political landscapes face systemic difficulties including limited state capacity and mounting federal debt. At the same time, rapid advances in generative AI have the potential to dramatically change the nature of work and the workforce as well as other fundamental aspects of society. This 2024 Aspen Economic Strategy Group (AESG) policy volume considers these topics and others, with a focus on strengthening America’s economic dynamism.
With the uncertain outcome of the November 2024 US presidential election ahead of us, there are a lot of unknowns about the specifics of how US economic policymaking will unfold over the coming years. However, given recent trends and current rhetoric, one thing that seems likely is that, whichever candidate wins the US presidency, the US will continue moving toward protectionist and nationalist economic policies. This movement has the potential to hinder economic growth and dynamism if not pursued wisely and cautiously.