Building a Better Democracy to Create an Inclusive Economy

For decades, Americans have expressed deep frustration with an economy that fails to provide security, agency, and power. This disillusionment has eroded faith in democratic institutions, creating openings for authoritarian alternatives that threaten to worsen conditions for the many and concentrate more power in the hands of the few. 

We’ve faced this kind of crisis before. History reminds us that President Franklin D. Roosevelt helped save our democracy during a moment of economic collapse by using bold public policy to restore faith in American ideals—delivering an economy people could see themselves in and benefit from. 

His approach offers a blueprint for today: Just as FDR recognized the economic roots of democratic instability, today’s leaders must reimagine policy to renew that same sense of shared purpose and possibility. It’s to that end that the Roosevelt Institute released Restoring Economic Democracy: Progressive Ideas for Stability and Prosperity, a new essay collection bringing together great minds from a range of disciplines to discuss how democracy can better deliver the economy Americans need and want.

On May 14, three essay contributors—Senator Chris Murphy, Roosevelt Institute President and CEO Elizabeth Wilkins, and Roosevelt Fellow and journalist Osita Nwanevu—joined together to explore how to effectively advocate for bold ideas that shape an innovative and inclusive economy and ensure a good and fulfilling life for all Americans.  

Senator Murphy explained the way prevailing economic structures suppress worker power, highlighting the “artificial culture of scarcity” that shapes how many Americans experience the economy today—where immense wealth and power are concentrated at the top, leaving everyone else to feel as though they’re fighting over what little remains. This illusion, he explained, erodes solidarity by making people see their neighbors not as members of a shared community but as rivals for scarce resources—the “table scraps that are left over” from a lopsided system. But this trajectory isn’t inevitable. Sen. Murphy called for policies that decentralize economic power, support local institutions, and help people rebuild meaningful connections to their communities—restoring a sense of belonging, purpose, and shared investment in one another’s well-being.

Wilkins emphasized that democracy and the economy are deeply interconnected, pointing out that most people experience democratic institutions not through abstract ideals but through their impact on daily life. Reflecting on her experience in government, she argued that it’s not enough to rebuild agencies as they were—we must reconstruct the executive branch to be fit for today’s challenges. This means using both democratic input and agency expertise to solve the problems that working people face, and ensuring transparency and accountability mechanisms to strengthen democratic legitimacy and show Americans that the government can successfully deliver.

As Nwanevu wrote in his essay, “Democracy isn’t an ideal the American people should be weighing against their economic well-being. It’s an ideal that can economically empower them.” That vision feels urgent today. We’re witnessing the destruction and collapse of old systems—but without a clear path toward building what comes next. 

But it doesn’t have to be this way. As we learned from FDR, there’s no such thing as “too ambitious” when it comes to fighting for workers and families.

To delve deeper into these transformative ideas, explore the full essay collection here and view the full webinar below.