In this light, “buy American and hire American” is an extreme version of an economic nationalist tradition that dates back to Alexander Hamilton, who favored protection of American industries, at least until they could compete on the global stage. The Hamilton Project, a mainstream bipartisan initiative based at the Brookings Institution, rests on the belief both in markets as engines of economic growth and in the use of government power “to enhance and guide market forces.” If those market forces favor the interests of foreign workers over those of American workers, even if American consumers benefit from lower prices, why shouldn’t we put American workers first?
Earlier this week, The Hamilton Project at the Brookings Institution held an event exploring the ins and outs of infrastructure investment. While a panel full of superstar economists agreed that the United States is approaching full employment and doesn’t need much in the way of fiscal stimulus right now, they nonetheless argued that government investment in infrastructure might still be a good idea. As illustrated by the chart below, which comes from a framing paper that The Hamilton Project released in advance of the event, the U.S. is just not spending nearly enough money on infrastructure.
The relationship between social skills and economic success is a relatively new phenomena, it’s impact varies from generation to generation. It’s rose up from a changing labor market, a US economy, like others around the world, that abandoned manufacturing and left a huge swath of baby boomers out of work with a set of skills that had become obsolete. A recent study (pdf) from The Hamilton Project, an initiative of the Brookings Institution, points out that while social skills had almost no impact on likelihood of future employment for those born in the late 1950s and early 1960s, they have large employment effects for those born in the early 1980s.
By one important measure of the inadequacy of federal, state and local policies, annual public investment in infrastructure has declined from 1.5 percent of Gross Domestic Product in 1980 to just 0.6 percent of the overall economy in 2015, as the Brookings Institution’s Hamilton Project notes in a new report. Indeed, the American Society of Civil Engineers in 2013 estimated that $3.6 trillion would be required just to bring U.S. infrastructure into a state of good repair, not counting any expansion to the existing infrastructure.
In the long run, licensing reform efforts may be most effective when they focus on reducing the difficulty of obtaining licenses and preventing inappropriate new licensure. The deployment of accurate cost-benefit analysis by state governments is a crucial part of achieving both goals.
Alan Auerbach, an economist at UC Berkeley, worked out a detailed proposal for a border-adjusted corporate tax back in 2010 in a paper for the Center for American Progress and the Hamilton Project, two institutions with links to the Obama administration and the Democratic Party establishment more broadly. The center-left Century Foundation issued a report from University of Michigan law professor Reuven Avi-Yonah in November calling for a similar system.
Twenty-five million jobs over 10 years comes out to about 208,000 jobs per month. This is only slightly higher than the pace of 180,000 jobs per months we’ve seen over the past year. The problem is (according to the Hamilton Project’s jobs gap calculator) we’re only about five months away from reaching pre-recession employment levels if we add 208,000 jobs per month. We’re very likely to see slower job growth than that over the next 115 months of Trump’s pledge — keeping up with population growth at that point would only entail about 90,000 jobs per month.
Let’s not forget that SNAP has been a clear policy success. It lifted nearly 5 million people out of poverty in 2014 (the most recent data available), is efficiently targeted to families who need benefits the most, reduces the likelihood that families have trouble affording food, serves as an automatic fiscal stabilizer in times of economic downturns, and has extremely low rates of both error and fraud. SNAP also has long-term benefits. My own recent research study found that those who had access to SNAP benefits during childhood grew up to be healthier, and women in particular were more likely to become economically self-sufficient due to childhood access to SNAP benefits.
Before becoming nauseated, however, consider that on the day your baby is born you don't have to have $233,610 sitting around to pay for baby food in a few months or Adidas and a computer later. If you consider your lifetime earnings, your income will total a big number too. A parent with a college bachelor's degree is likely to make $800,000 to $2 million during their working years, according to an estimate by the Hamilton Project, a research group within the Brookings Institution. A person with only a high school degree will make about $580,000.
The key is to recognize that a constructive working relationship with China offers bilateral and multilateral benefits, and, conversely, a tense relationship presents serious risks. The greatest American threat to the economic future of China would be America’s failure to succeed economically, and, conversely, the United States’ greatest economic danger would be Chinese failure. By contrast, if each country gets its own house in order, and succeeds economically, that should increase confidence about the future, which should foster a constructive relationship.
Unsurprisingly, non-college educated workers are far more likely to work in lower paying service occupations in the modern economy compared to the past, according to the think thank, The Hamilton Project.
With 2016 behind us, it’s time to think about fresh starts again. But whether that means a small change or a complete life overhaul, finding a new or better job surely will top many Americans’ list of goals. If that’s your mission for the new year, it’s a good time to be on the job market. According to the U.S. Bureau of Labor Statistics’ most recent jobs report, the national unemployment rate has fallen to 4.6 percent — the lowest since 2007.
Inclusive growth offers an economic vision that reflects and reinforces our country’s broad values. The policies exist to achieve it. Now it’s up to us to make it happen.
“The question at the core of all the speculation is whether the Fed will raise a short-term interest rate called the federal funds rate by one-quarter of one percentage point or hold off until later this year. The decision to raise could make mortgages and other loans a teeny bit more expensive, but the effect on the economy will be hard to detect.”
“The death toll rose for the first time in ten years for certain demographic groups—primarily middle-aged white and lower income Americans attributed in part to opioids, suicide and chronic liver disease according to a study by the Brookings Institution's Hamilton Project.”
“A 2014 [Hamliton Project] national study of lifetime earnings in 80 college majors found that median earnings by college graduates are higher in every major over lifetime earnings of those with a high school degree. But there were a handful of majors that earned less than the median earnings of those with an associate degree -- and not much more than a high school graduate. They include drama and theater arts, elementary education, early childhood education and theology.”
“The Arizona State Board for Charter Schools has approved an intent to revoke the charter of a Mesa school that closed just as school was supposed to start. And recently, charter schools caught the eye of John Oliver, on his HBO show, Last Week Tonight. In response to the monologue, the Center for Education Reform launched what it’s calling the “Hey John Oliver, back off my charter school” video contest, which aims to show how charter schools help students and their families. Diane Schanzenbach is the director of the Hamilton Project at the Brookings Institution – it’s a non-partisan economic think tank that looks at a variety of policies, including education. We ask if she thinks charter schools suffer a perception problem.”
"Michigan Radio's Jennifer Guerra spoke with Diane Whitmore Schanzenbach. She says small classes help students. They're particularly helpful through grade 3, and large class sizes can harm students as they get older. "Kids who were randomly assigned to the small classes were more likely to go on to attend college," explains Schanzenbach. "They’re less likely to be involved in crime, they’re less likely to be a teenage parent, they’re more likely to save for retirement." And the positive outcomes are most pronounced in African American children and kids from low-income families."
“Using Census Bureau data, the Brookings Institution’s Hamilton Project analyzed lifetime earnings for each discipline’s top 10% of moneymakers. It found that computer science’s stars rang up lifetime earnings of at least $3.2 million. Nice work, but not as impressive as philosophy majors’ $3.46 million or history majors’ $3.75 million.”
“Among other findings, the study found Head Start children had a higher high school graduation rate, by 5 percentage points, than their non-Head Start siblings. “Third-grade test scores are only one thing that we care about,” said Diane Schanzenbach, director of the Hamilton Project at The Brookings Institute, the think tank that conducted the recent study. “We care more about the long-term impact on young kids.”
“Third-grade test scores are only one thing that we care about,” said Diane Schanzenbach, the director of the Hamilton Project at The Brookings Institute, the think tank that conducted the recent study. “We care more about the long-term impact on young kids.”
“The second study comes from the Hamilton Project at Brookings. Their new economic analysis extends what we know about the long-term impacts of Head Start even beyond middle school. Using data from the National Longitudinal Survey of Youth, a survey that has tracked a multi-generational representative sample since 1979, the study compares Head Start children with their siblings who either went to a different type of pre-K or who did not attend any program.”
“The overhaul to Head Start comes on the heels of two reports published this month documenting positive findings for early childhood education, including a report from The Hamilton Project that found that Head Start increases the probability that participants graduate from high school, attend college and receive a postsecondary degree.”
“Because of high rates of incarceration — in part due to harsh prison sentences and mandatory sentencing laws — the prison population has grown drastically since 1990, while the rate of violent crime and property crime has gone down by 45 percent, according to the Brookings Institution’s Hamilton Project.”