The government’s rules and administration play a central role in shaping the conduct, stability, and growth of the macroeconomy. Building an equitable and sustainable economy—one that works for all—means reimagining our macroeconomic goals and rethinking how our monetary and fiscal policy tools can help achieve them.
The Roosevelt Institute’s Macroeconomic Analysis team is leading the way, conducting original research and data analysis and engaging with economic theory to answer central questions about the state of our economy:target levels of output, employment, inflation, and speed of growth.
An essential precondition for a more just, inclusive, and egalitarian society is full employment. Full employment gives workers a stronger hand in bargaining, it allows for the rapid transition out of carbon production, and it helps collapse forms of persistent labor market discrimination. As a popular banner at the Civil Rights March of 1963 described, “Civil Rights Plus Full Employment Equals Freedom.” This team takes this responsibility seriously, advocating for full employment both for the benefits it would directly bring to all workers, especially Black and brown workers, and the ways it can help to build a better future for all.
When it comes to managing the economy and bringing about full employment, the US is going through a profound intellectual revolution. Since the onset of the pandemic, governments across the world have worked to stabilize incomes with monetary and fiscal policies far more aggressive than the austere responses of the neoliberal era. As a result, the pandemic has led to far less economic disruption than was initially feared, and the US is now poised for a strong recovery. Our work is dedicated to making sure this recovery is both sustained and equitable.
Follow the conversation on interest rate hikes:
By continuing to raise interest rates while the Black unemployment rate is rising, the Federal Reserve betrays its full employment mandate.
— Roosevelt Institute (@rooseveltinst) August 3, 2023
Our Macroeconomic Analysis Team
Joseph StiglitzChief Economist and Senior Fellow
As chief economist and senior fellow at the Roosevelt Institute, Joseph Stiglitz focuses on income distribution, risk, corporate governance, public policy, macroeconomics, and globalization.
David SteinFellow, Macroeconomic Analysis
As a fellow at the Roosevelt Institute, David Stein researches and writes about economic policy, the civil rights movement, full employment, and inflation management. He uses his grounding as a historian of public policy and political economy to envision new solutions to current and future problems.