Submitted testimony from Lenore Palladino, Senior Economist and Policy Counsel, Roosevelt Institute March 15, 2018   Dear Senator Martin, Senator Winfield, Representative Lesser and Members of the Banking Committee: My name is Lenore Palladino. I am a Senior Economist and Policy Counsel at the Roosevelt Institute. Thank you for the opportunity to testify before you

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Inequality and Economic Growth

In the middle of the 20th century, it came to be believed that “a rising tide lifts all boats”: economic growth would bring increasing wealth and higher living standards to all sections of society. At the time, there was some evidence behind that claim. In the ensuing economic and political debate, this “rising-tide hypothesis” evolved

Larry Fink’s annual letter to CEOs is making waves for its pronouncement that “companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.” Fink is the head of $6.3 trillion dollar asset manager BlackRock and the leader of a rising chorus calling on companies to stop focusing

Why This Matters is a series from Roosevelt staff connecting our individual work—from papers to reports and everything in between—to our broader vision of creating a better, more equitable economic and political system. This series will give readers the top takeaways from our latest writing and thinking, with a focus on why they matter as we

The ability of workers to bargain for a greater share of a firm’s corporate profits has eroded over decades, and one of the growing drivers of this reality is the financialization of the corporate sector. Corporate financialization can be summed up as two behaviors: firms (like Walmart or Pfizer) increasingly earning profits from financial activity

Why This Matters is a new series from Roosevelt staff connecting our individual work—from papers to reports and everything in between—to our broader vision of creating a better, more equitable economic and political system. This series will give readers the top takeaways from our latest writing and thinking, with a focus on why they matter

The enormous tax legislation currently moving through the Senate at breakneck speed has already been analyzed by several official and nonpartisan experts and every single analysis has shown the same thing: the biggest tax cuts go to the wealthy and corporations, and many middle-income and lower-income families would pay more in taxes than they do

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Welcome to the inaugural edition of Why This Matters, a new series from Roosevelt staff connecting our individual work—from papers to reports and everything in between—to our broader vision of creating a new, more equitable economic and political system. This series will give readers the top takeaways from our latest writing and thinking, with a focus on why

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Progressives should embrace employee ownership as one of the best ways to challenge corporate power from the bottom up and put supporting the growth of worker-owned firms in the center of our strategy. As the economy becomes Uber-ized and dominant firms in all sectors take up more and more market share, structural reforms like better

How would a massive federal spending program like a universal basic income (UBI) affect the macroeconomy? We use the Levy Institute macroeconometric model to estimate the impact of three versions of such an unconditional cash assistance program over an eight-year time horizon. Overall, we find that the economy can not only withstand large increases in