Recent developments in technology, including the proliferation of smart machines, networked communication, and digitization, have the potential to transform the economy in groundbreaking ways. In this framing paper, The Hamilton Project explores the debate about how computerization and machines might change the future of work and the economy, and what challenges and opportunities this presents for public policy.
Strategy Papers/Economic Facts
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The water crisis is as much an economic issue as it is an environmental one, and it demands focused national attention. This Hamilton Project policy memo presents nine economic facts about water in the United States, focusing on relevant background context to the water crisis as well as on supply and demand issues. This memo underscores three topics: the occurrence of drought in the United States, the importance of water to the U.S. economy, and barriers to efficient uses of water.
In this policy memo, The Hamilton Project highlights the economic significance of U.S. fisheries, describes the current landscape of the industry and typical management practices, and explains the “tragedy of the commons” challenge facing this natural resource. The Project also explores possible approaches for improving the economic and ecological sustainability of U.S. fisheries by establishing better-defined property rights as an alternative to traditional management systems.
This Hamilton Project policy memo provides ten economic facts highlighting recent trends in crime and incarceration in the United States. Specifically, it explores the characteristics of criminal offenders and victims; the historically unprecedented level of incarceration in the United States; and evidence on both the fiscal and social implications of current policy on taxpayers and those imprisoned.
In a new policy memo, The Hamilton Project highlights four policy challenges hampering the economic potential of wireless spectrum and opportunities to address these challenges through innovative, evidence-driven approaches to reform.
These economic facts focus on two key challenges facing lower-middle-class families: food insecurity and the low return to work for families who lose tax and transfer benefits as their earnings increase.
In this policy memo, The Hamilton Project examines the relationship between growing income inequality and social mobility in America. The memo explores the growing gap in educational opportunities and outcomes for students based on family income and the great potential of education to increase upward mobility for all Americans.
The Hamilton Project explores both the condition of education in the United States and the economic evidence on several promising K-12 interventions that could improve the lives of Americans.
Although innovation has revolutionized the American economy as a whole over the last century, the education sector has benefitted relatively little from these advances.In a forthcoming paper, The Hamilton Project compares the nation’s total expenditures on research and development by sector and finds spending on education lags behind other areas such as pharmaceuticals and medicine.
To provide an economic context for tax reform, The Hamilton Project has a set of economic facts focusing on the role of our tax system in the long-run budget deficit, global competitiveness, and rising income inequality.
Building America’s Job Skills with Effective Workforce Programs: A Training Strategy to Raise Wages and Increase Work Opportunities
Amid the Great Recession and rapid technological changes, both workers with less education and workers who have been displaced from long-tenured jobs face challenges because they lack the particular skills that employers demand for good-paying jobs. In a new Hamilton Project strategy paper, Michael Greenstone and Adam Looney address the importance of developing workers’ skills through training and workforce development programs, and examine newly available evidence on policies that boost job opportunities and wages.
For decades, education has boosted U.S. productivity and earnings, forged a path out of poverty for many families, helped disadvantaged students narrow the learning gap with their peers, and developed a workforce that continues to be among the most productive and innovative on Earth. However, in recent years educational attainment and performance have stagnated. In this strategy paper, The Hamilton Project provides a dual-track approach to improving educational outcomes for K-12 students by addressing structural barriers and implementing short-term cost-effective reforms to improve student performance.
During the last century, medical, technical, and business innovations have driven economic growth, increased wages, and improved living standards in the United States. In recent years, however, those gains have stagnated. The Hamilton Project examines the role of innovation in driving the U.S. economy, including its historical importance, the current pace of growth, and opportunities for investments to benefit America’s future.
America’s energy choices are built on the prices we see at the pump and our utility bills. Yet these prices mask the social costs arising from those energy choices, including shorter lives, higher health care expenses, a changing climate, and weakened national security. Michael Greenstone and Adam Looney provide four principles for reforming America’s energy policies to help level the playing field for all energy sources — moving away from a system that favors energy sources with lower prices at the pump but higher costs to society through health impacts and our ongoing reliance on foreign oil.
Investing in the Future: An Economic Strategy for State and Local Governments in a Period of Tight Budgets
Confronting near-term budget challenges, state and local governments are under tremendous pressure to focus on immediate needs at the expense of long-term investments. Michael Greenstone and Adam Looney highlight four policy principles for state and local governments with an emphasis on the importance of infrastructure investments for economic growth and prosperity.
Creating 21st Century Jobs: Increasing Employment and Wages for American Workers in a Changing World
In this paper, the Center for American Progress (CAP) and The Hamilton Project (THP) outline three proposals to help address the long-run imperative of creating jobs and improving wages in the United States.
When hit by recessions or other economic shocks, some communities have persistently low rates of economic growth that cause them to fall behind the rest of the country. The recovery period for these distressed communities is longer and more painful than necessary. To address this situation, The Hamilton Project proposes a three-pronged approach: attract businesses to distressed areas, invest in displaced workers, and match workers to jobs.
This policy memo explores some of the questions frequently raised around immigration in the United States and provides facts drawn from publicly available data sets and the academic literature.
This paper argues that we must confront the challenges that pose a greater risk to our long-run prosperity than the Great Recession. America’s future growth requires reprioritizing expenditures toward increasing workforce productivity, innovation and infrastructure, savings, and government effectiveness.
Today, too many Americans are not fully sharing in our nation’s prosperity. This paper outlines the ways in which promoting economic growth, broad-based participation in growth, and economic security can be mutually reinforcing policy objectives.
Manasi Deshpande and Douglas W. Elmendorf argue that America now has the opportunity to channel public concern and frustration into a national infrastructure strategy that promotes infrastructure as a central component of long-term, broadly shared growth.
Jason Furman discusses the issue of missing markets for both societal and individual risk, highlighting reasons for the absence of these markets and proposing solutions to enable the development of new markets.
The livelihoods and living standards of many Americans are at stake in any discussion about stimulus. This paper considers several key questions on stimulus and provides principles and examples for effective implementation.
This paper offers a strategy to reduce poverty and strengthen growth across the income spectrum by helping people find jobs, investing in human capital, and creating a strong social safety net.
This paper presents a strategy for addressing climate change and promoting energy security that includes pricing carbon and oil, investing in basic research on energy technologies, and engaging with other major emitting nations.
The dynamic forces of technological change, financial innovation, and globalization present new challenges for progressive taxation. This strategy paper offers several broad principles that reflect the new challenges facing our tax system in the 21st Century.
To better secure the benefits of education, this paper outlines an evidence-based education strategy that emphasizes new investments in some areas (such as early education) and structural reforms in others (such as the teacher tenure system).
This strategy paper argues that maintaining our nation's economic leadership in the world and promoting broad-based growth at home will require effective policies to support research, innovation, and access to advanced information and telecommunications technologies.
American families face new economic risks even as our social safety net is fraying. This paper outlines a strategy for providing a basic level of economic security that is beneficial for families and for national economic growth.
This briefing paper articulates a philosophy of embracing international competition while investing in workers and market-friendly insurance. The underlying goal is to boost overall productivity while also sharing more broadly both the benefits and costs of trade.
Americans’ long-held belief that education and hard work advances each generation’ outlook has provided a powerful incentive for industrious activity, spurring the unprecedented economic growth that the United States has enjoyed for more than two centuries. Yet the fundamental principle that all citizens should have an opportunity to succeed is at risk today because the nation is neither paying its way nor investing adequately in its future. The Hamilton Project at Brookings advances innovative policy ideas for improving our nation’s economic policy.
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