On September 28, The Hamilton Project at the Brookings Institution hosted a forum to explore the most effective policy options to foster place-based policies for shared economic growth.
Development economics research has made substantial progress in addressing poverty, poor health and education, and other problems of struggling areas. In this paper, Stephen C. Smith relates findings from the development economics literature to U.S. policy problems, highlighting programs and policies that have the potential to assist lagging areas in the United States.
For a century, the progress our nation made toward realizing broadly shared economic growth gave our economy much of its unparalleled strength. However, for the last several decades, that progress has seemed to stall. On critical measures such as household income, poverty, employment rates, and life expectancy, there exist yawning persistent gaps between the best- and worst-performing communities. These conditions demand a reconsideration of place-based policies. The evidence-based proposals contained in this volume can help restore the conditions of inclusive growth that make it possible for individuals from any part of the country to benefit from economic opportunity.