Thinkers / Ideas
Jacob S. Hacker and Nate Loewentheil / Prosperity Economics

Prosperity Economics: Building an Economy for All ... Jacob S. Hacker and Nate Loewentheil

Burgess COMMENTARY
This book / paper has a lot right ... but like most intellectual analysis it is very good but not very comprehensive and is based on a very dangerous assumption and that is that growth is an answer and that growth is sustainable. It is not.

Prosperity is a very good goal, but we have to figure out how to have prosperity with much less consumption and waste, and much more efficiency in the use of resources. This is a technical matter more than anything else.

There is the technology to have a much better world, but the prevailing incentives result in technical deployments that make more product (whether or not it is really needed) and rarely deployments that merely deliver prosperity and a better quality of life ... with less consumption
Peter Burgess

Open PDF ... Open PDF ... Prosperity Economics: Building an Economy for All

Contents

About the Authors v
Acknowledgments vi
Executive Summary vi
Introduction 1

PART ONE: Austerity Economics and Its Discontents 3

Myth 1: Spending and deficits are our #1 problem 7
Myth 2: Cutting taxes on the richest is an effective way to spur prosperity 8
Myth 3: Inequality is not a problem because social mobility is high 10
Myth 4: Markets are smart, governments are dumb 12
Myth 5: Those at the top are the ones who create wealth and are alone responsible for their good fortune 13

PART TWO: Prosperity Economics and the Way Forward 15

Innovation-led growth, grounded in job creation, public investment, and broad opportunity 18
Creating jobs 19
Fostering innovation 20
Expanding opportunity 21
Security for workers and their families, the environment, and government finances 23
Economic security 24
Environmental security 25
Fiscal security 26
Democratic voice, inclusivity, and accountability —in Washington and in the workplace 28
Free government from narrow corporate interests 28
Accountability in and through the private sector 29
Strengthening our democracy 31

PART THREE: Policies for Broadly Shared Prosperity 35

The First Pillar: Growth 35
Growth by creating jobs 35
Create jobs by investing in infrastructure and restoring communities 35
Create jobs by ensuring U.S. global competitiveness 36
Create jobs by enforcing full-employment monetary policy 37
Growth by fostering innovation 38
Foster innovation through education 38
Foster innovation through technology and entrepreneurship 39
Foster innovation by growing the advanced manufacturing sector 40
Growth by expanding opportunity and promoting inclusivity 40
Expanding opportunity through immigration policy 40
Expanding opportunity through enhanced social mobility 41
Expanding opportunity through rising wages and job quality 41

The Second Pillar: Security 42
Economic security 42
Secure health care 42
Secure retirement 44
Household security 45
Environmental security 46
Secure climate 46
Secure natural resources 46
Secure and sustainable global economics 47
Fiscal security 48
Broad and secure tax base 48
Other revenue sources and savings 49

The Third Pillar: Democracy 50
Free government from narrow corporate interests 50
The banking industry 50
Consumer protection 51
Lobbying reform 51
Accountability in and through the private sector 51
Civil society 51
Corporate governance 52
Collective bargaining and worker voice 53
Strengthening of our democracy 54
Limit big money in elections 54
Procedural reform 54
Voter access 54
Conclusion 57

Appendix 59
Endnotes 61