As the United States grapples with ongoing social, health, and economic crises, policymakers are considering—and enacting—major changes at all levels of government. In response to the COVID-19 pandemic, this includes bolstering existing programs, like unemployment insurance, and creating new initiatives, like grants and loans for small businesses and a new paid sick leave benefit. And

The COVID-19 pandemic poses deep and intertwined structural threats to an American economy that was already fragile. When the virus struck, the US had far greater wealth and income inequality than other advanced nations, and far larger coverage gaps in health and social insurance—from paid leave to unemployment insurance. As always, those inequalities were starker

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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

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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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

For decades, literature on the international dimension of tax injustice has focused on the conflict between tax havens and developed welfare states. The Panamas and Cayman Islands of the world helped rich individuals and corporations shield their assets from tax collectors, largely unchallenged before the financial crisis because states were unable or unwilling to build

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Economists have had a long predilection for price interventions to correct market failures. Recognizing the importance of the second-best nature of economies, the Stern-Stiglitz High-Level Commission on Carbon Prices report (2017) departed from the recommendation of a single carbon price for all uses at all places and all times. In a Roosevelt working paper, Roosevelt

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Did Marketplace Coverage Really Offer Financial Protection? Financial Gains from the Affordable Care Act’s Private Insurance Policies for the Previously Uninsured While the Affordable Care Act (ACA) expanded health coverage to millions of Americans, more than half of the people eligible for the law’s private insurance marketplace remained uninsured. Today, most of those who were

In a new working paper, Roosevelt Senior Economist and Fellow Lenore Palladino argues that the 21st century American economy requires a new, more accurate, and more effective model for corporate governance—one that can advance worker power and employee representation within American corporations and curb inequality. As it stands, outsized shareholder power is contributing to rising economic

To address the existential threat of climate change, the international community must come together and rewrite the rules. In a new working paper, Roosevelt Fellow Todd Tucker argues that a global Green New Deal—in tandem with a domestic Green New Deal—can both remake an international trade infrastructure in crisis and decarbonize the global economy in