Economics for Inclusive Prosperity

A network of academic economists committed to an inclusive economy and society.
Our members develop and discuss policy ideas based on sound scholarship.

inequality

We live in an age of astonishing inequality. Income and wealth disparities between the rich and the poor in the United States have risen to heights not seen since the gilded age in the early part of the 20th century. Technological changes and globalization have fueled great wealth accumulation among those able to take advantage of them, but have left large segments of the population behind. Advances in automation and digitization threaten even greater labor market disruptions in the years ahead. Climate change fueled disasters increasingly disrupt everyday life.

This is a time when we need new ideas for policy. We think economists, among other social scientists, have a responsibility to be part of the solution, and that mainstream economics – the kind of economics that is practiced in the leading academic centers of the country – is indispensable for generating useful policy ideas.

Much of this work is already being done. In our daily grind as professional economists, we see a lot of policy ideas being discussed in seminar rooms, policy forums, and social media. There is considerable ferment in economics that is often not visible to outsiders. At the same time, the sociology of the profession – career incentives, norms, socialization patterns – often mitigates against adequate engagement with the world of policy, especially on the part of younger academic economists.

We believe the tools of mainstream economists not only lend themselves to, but are critical to the development of a policy framework for what we call “inclusive prosperity.” While prosperity is the traditional concern of economists, the “inclusive” modifier demands both that we consider the interest of all people, not simply the average person, and that we consider prosperity broadly, including non-pecuniary sources of well-being, from health to climate change to political rights.

EfIP gratefully acknowledges financial support from the Hewlett Foundation.

Members

Join Economics for Inclusive Prosperity

Membership in the EfIP network is open to all academic economists. The “price of membership” for EfIP is a 10-12 page policy brief, which can be coauthored by up to 2 applicants, who should be academic economists. The briefs must be original texts (not published elsewhere) and will be blind-reviewed by two existing members of EfIP for consistency with EfIP’s mission, namely:

  1. The brief must advance an original policy proposal or policy direction;
  2. The policy/policies considered must fall under the rubric of inclusive prosperity, broadly understood;
  3. The analysis must be based on sound scholarship in economics (that is, supported by peer-reviewed research in widely accepted economics journal).

Referees will be expected to make simple up/down decisions, and if both say yes, the authors of the proposal are admitted. If split, then the co-directors may ask another member to be a referee, or otherwise exercise discretion.

We want to encourage the development of practical ideas rooted in economics, and we want to be as transparent and focused on ideas (rather than personalities) as possible. We will consider all proposals on an equal footing, blinded so that superior connections or status in the discipline are not disproportionately rewarded. The policy brief is the sole basis of membership.

While initially U.S. focused, we are open to proposals that concern other advanced economies as well as developing countries, so long as they are consistent with the 3 principles above.

Policy Briefs

ebook-cover

The EfIP eBook: Economics for Inclusive Prosperity: An Introduction

We live in an age of astonishing inequality. Income and wealth disparities between the rich and the poor in the United States have risen to heights not seen since the gilded age in the early part of the 20th century, and are among the highest in the developed world. Median wages for American workers remain at 1970s levels. Fewer and fewer among newer generations can expect to do better than their parents. Organizational and technological changes and globalization have fueled great wealth accumulation among those able to take advantage of them, but have left large segments of the population behind. U.S. life expectancy has declined for the third year in a row in 2017, and the allocation of healthcare looks both inefficient and unfair. Advances in automation and digitization threaten even greater labor market disruptions in the years ahead. Climate change fueled disasters increasingly disrupt everyday life. Greater prosperity and inclusion both seem attainable, yet the joint target recedes ever further.

This is a time when we need new ideas for policy. We think economists, among other social scientists, have a responsibility to be part of the solution, and that mainstream economics – the kind of economics that is practiced in the leading academic centers of the country – is indispensable for generating useful policy ideas.

EfIP Member Policy Briefs

  • Policy Brief 18:

    Should We Worry About Corporate Leverage?Online PDF

    Şebnem Kalemli-Özcan

    October 2019

  • Policy Brief 17:

    No Data in the Void: Values and Distributional Conflicts in Empirical Policy Research and Artificial IntelligenceOnline PDF

    Maximilian Kasy

    August 2019

  • Policy Brief 16:

    Carbon Pricing for Inclusive Prosperity: The Role of Public SupportOnline PDF

    David Klenert and Linus Mattauch

    August 2019

  • Policy Brief 15:

    Thoughts on Medicare for AllOnline PDF

    Ilyana Kuziemko

    July 2019

  • Policy Brief 14:

    The Economics of Free CollegeOnline PDF

    David J. Deming

    June 2019

  • Policy Brief 13:

    It’s good jobs, stupidOnline PDF

    Daron Acemoglu

    June 2019

  • Policy Brief 12:

    Antitrust and Labor Market PowerOnline PDF

    José Azar, Ioana Marinescu, and Marshall Steinbaum

    May 2019

  • Policy Brief 11:

    Confronting Rising Market PowerOnline PDF

    Jonathan B. Baker and Fiona Scott Morton

    May 2019

  • Policy Brief 10:

    Taxing Multinational Corporations in the 21st CenturyOnline PDF

    Gabriel Zucman

    February 2019

  • Policy Brief 9:

    Towards A More Inclusive Globalization: An Anti-Social Dumping SchemeOnline PDF

    Dani Rodrik

    February 2019

  • Policy Brief 8:

    Worker Collective Action in the 21th Century Labor MarketOnline PDF

    Suresh Naidu

    February 2019

  • Policy Brief 7:

    How to think about finance?Online PDF

    Atif Mian, Princeton University

    February 2019

  • Policy Brief 6:

    Labor in the Age of Automation and Artificial IntelligenceOnline PDF

    Anton Korinek, University of Virginia and Darden GSB

    February 2019

  • Policy Brief 5:

    Election Law and Political EconomyOnline PDF

    Ethan Kaplan

    February 2019

  • Policy Brief 4:

    Using Wage Boards to Raise PayOnline PDF

    Arindrajit Dube, University of Massachusetts Amherst

    February 2019

  • Policy Brief 3:

    An Expanded View of Government’s Role in Providing Social Insurance and Investing in ChildrenOnline PDF

    Sandra E. Black and Jesse Rothstein

    February 2019

  • Policy Brief 2:

    Towards a Better Financial SystemOnline PDF

    Anat R. Admati

    February 2019

  • Policy Brief 1:

    Economics for Inclusive Prosperity: An IntroductionOnline PDF

    Suresh Naidu, Dani Rodrik, and Gabriel Zucman

    February 2019

  • Future Contributors