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

“Right now,” wrote Senator Chuck Schumer in a New York Times op-ed on Monday, “millions of unemployed or underemployed people, particularly those without a college degree, could be brought back into the labor force” with appropriate government policies. With this seemingly anodyne point, Schumer took sides in a debate that has sharply divided economists and policymakers: Is

Late on Monday, the Trump administration released their long-awaited objectives for the renegotiation of the North American Free Trade Agreement (NAFTA). If it looks familiar to trade wonks, that’s because it is. In area after area, the Trump administration proposes to change the North American pact to make it more like the Trans-Pacific Partnership (TPP).

As every new parent knows or quickly finds out, children are expensive. With costs ranging from diapers to daycare, children can be a source of deep economic insecurity for low-income families, especially for women. President Trump’s childcare plan does nothing to alleviate the burdens of childcare on families across the country. The Dependent Care Savings

The tide of economic growth no longer lifts all boats. Half of Americans have seen no growth in their incomes since 1980. The government did very little to help those left behind the tide of rising economic inequality. Maybe it’s time to consider a fresh approach to creating economic opportunity – what if we all

“It’s everything related to jobs… shipyards, ironworks, get them all jacked up. We’re just going to throw it up against the wall and see if it sticks.” -Donald Trump Amid discussion of the Trump administration’s plans for bringing back manufacturing, we should not lose sight of one of the best opportunities for job creation: investing

The surge of states and cities enacting $15 minimum wages masks the ongoing debate within the Democratic Party about their economic impact. In the face of Republicans saying that raising the wage kills jobs, Democrats like New York’s Governor Andrew Cuomo are forcefully making the opposite case: raising the minimum wage promotes job creation and

In his last State of the Union address, referring to the need for a higher minimum wage, paid leave, and equal pay for equal work, President Obama declared, “I won’t rest until they get done.” It’s time he used the purchasing power of the federal government to show he means it. As Americans continue to

The Next American Economy’s video series on “The Good Economy of 2040″ continues this week with Denise Cheng from the MIT Center for Civic Media and the San Francisco Mayor’s Office of Civic Innovation. Cheng is an advocate of open government initiatives like open data and participatory budget projects. But if she had to pick

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This week, the Roosevelt Institute’s Next American Economy project is releasing a series of thought briefs in which experts examine how the economy will change over the next 25 years. Read the introduction here. Fifty years ago, the path to professional success and economic stability was pretty clear: Get good grades -> Go to college -> Find a