SEARCH: Technology and Innovation

Science and Innovation: The Under-Fueled Engine of Prosperity

Benjamin Jones (Kellogg School of Management at Northwestern University) argues that the United States is vastly underinvesting in science and innovation, hindering productivity growth. He presents evidence that increased public spending on research and development would lead to improvements in standards of living and health, enhance our economic competitiveness, and advance our nation’s capacity to ...

Challenges of a Clean Energy Transition and Implications for Energy Infrastructure Policy

Economists Severin Borenstein (Berkeley Haas School of Business) and Ryan Kellogg (University of Chicago Harris School of Public Policy) discuss the major barriers that need to be overcome in order to successfully execute a transition to a reliable low-carbon energy system at reasonable cost. The authors observe that the country must rapidly reduce greenhouse gas ...

Rebuilding the Post-Pandemic Economy

After suffering the worst economic shock since the Great Depression last year, the American economy is recovering in fits and starts. While many businesses are reopening their doors and thriving, continued uncertainty about the course of the virus, the inflation outlook, labor shortages, and many other factors are hampering a full return to normal activity. The COVID-19 pandemic also reinforced and exacerbated many of the biggest structural economic challenges in our society. It precipitated the largest economic relief and stimulus spending in US history and transformed the way that millions of Americans live and work, with automation, e-commerce, and telework all playing a bigger role. The pandemic and its aftershocks reignited not only the perennial debates about the appropriate role and size of government, but also present new and urgent questions about how the post-pandemic economy will take shape. The policy volume Rebuilding the Post Pandemic Economy examine important questions about how the post-pandemic economy will take shape. What are some initial lessons we can take away from the novel government programs that were deployed to provide economic relief and stimulus? How can we implement new infrastructure investments to maximize efficiency and equity, and best respond to the climate crisis? After a year of widespread school closures, what have we learned about the role of K-12 education in perpetuating or reducing social and economic inequities? And how should American trade policies evolve to promote economic recovery and strengthen America’s role in the global economy?

Introduction: Rebuilding the Post-Pandemic Economy

The COVID-19 pandemic plunged the US economy into recession, challenged the survival of millions of businesses, and threatened the economic security of American households. The recession officially lasted only two months, ending in April 2020, but looming economic challenges remain and the path of the post-pandemic recovery is uncertain. The US labor market recovery is ...

Why and How to Expand US Immigration

Immigration has long been celebrated as an engine of America’s economic growth and cultural vibrancy, even as the changes it brings often cause concern among the populace. An estimated 13.7 percent of those living in the United States today were born outside its borders, nearly as high as the peak of 14.8 percent in 1890 ...

The Causes and Consequences of Declining US Fertility

US births have fallen steadily since 2007 and the total fertility rate is now well below replacement level fertility—the rate at which the population replaces itself from one generation to the next. Our analysis suggests that this trend is unlikely to reverse in the coming years. The decline in births is widespread across demographic groups ...

Aspen Economic Strategy Group Releases New Policy Analysis on Why and How to Expand US Immigration

Immigration helps address the US’ growing demographic challenges posed by declining fertility and aging population and spurs economic growth Contact: Kelly Friendly kellyfriendly@gmail.com Washington, DC — December 6, 2022 — The Aspen Economic Strategy Group (AESG) today released a paper, “Why and How to Expand US Immigration”, by Tara Watson, the David M. Rubenstein Fellow ...

Foreword: Economic Policy in a More Uncertain World

The Aspen Economic Strategy Group releases its fifth annual policy volume against a backdrop of historic economic and strategic uncertainty.  Supply shocks resulting from a senseless Russian war in Ukraine are exacerbating already soaring energy and food prices. Increasing hostility between the United States and China is accelerating the transition to a world of rival ...