The COVID-19 pandemic is exposing structural flaws in our economy that have made the crisis far worse than it should have been. Rampant inequality, disinvestment in public institutions, and a persistent erosion of worker protections have created a precarious economy that has collapsed under the immediate crisis. Congress has acted quickly, appropriating billions of dollars

As part of Congress’s financial stimulus response to the COVID-19 pandemic, the CARES Act included $1,200 stimulus checks to all qualifying Americans—but there was no clear plan for delivering these checks to unbanked and underbanked Americans. Unfortunately, financial inclusion—access to payment systems, credit products, and financial services of all kinds—is an afterthought in politics and

Over the last several decades, a rise in worker productivity and flat wages have driven record-high corporate profits in the US. As the private, for-profit sector benefited, economic insecurity has increased and wage gaps persist. This is especially true for Black women, who face both the gender wage gap and the racial wage gap—a reinforcing

We are facing an unprecedented economic crisis, and the government must take on a larger role in our economy.  In response to the coronavirus, the unthinkable is quickly becoming thinkable. As of March 24, 2020, Congress is considering a $2 trillion stimulus; a $1,200 grant to all Americans; bailouts of firms facing bankruptcy; suspension of

The recent bill introduced by Senate Majority Leader Mitch McConnell tries to stem the current economic crisis. In a previous document, “A Forward-Thinking Response to the Coronavirus Recession,” we outlined five elements that any response needs to include: (1) Help people directly by providing cash, (2) support workers, (3) help states and municipalities, (4) prevent

The coronavirus outbreak has led to a collapsing economy. The economic situation is deteriorating so fast that people are struggling in real time to understand fundamental questions and policy objectives.  “A Forward-Thinking Policy Response to the Coronavirus Recession” is an overview of where things stand. We focus on the nature of the economic crisis, and

In the final weeks and days of 2019, significant changes via legislative ratifications to the North American investment treaty template were made, most notably with approvals of the US-Mexico-Canada Agreement (USMCA) that will replace the 1993 North American Free Trade Agreement (NAFTA). On December 10, the three governments signed the final version of the pact.

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Our nation is faced with once-in-a-generation challenges—including devastating climate change, crumbling infrastructure, and crippling household debt—that can only be addressed by bold, progressive policies, many of which require significant government spending. A major impediment to meeting these challenges is the “pay as you go” (PAYGO) rule. The PAYGO rule is a congressional budget rule that

Inequality is a defining American issue, and perhaps no measure more accurately exemplifies the failures and injustices of historic and current-day economic decisions than the “racial wealth gap.” In the current political moment—when bold ideas to rebalance economic and political power, especially by race, are central to public debate—we have the opportunity to reevaluate how

In The Contribution of Shareholder Primacy to the Racial Wealth Gap, Roosevelt Fellow Lenore Palladino explores several ways of evaluating the impact of disparate equity ownership, and payments to shareholders, on racial wealth disparities. Using data from the Federal Reserve’s Distributional Financial Accounts and S&P Compustat, Palladino measures corporate equity ownership by race and ethnicity