Inclusive Prosperity Without the Prosperity: Why the Democrats’ “Middle-Out” Economic Formula Is a Bad Recipe for 2016

Wednesday, May 13, 2015 - 9:00 AM to 10:30 AM
Information Technology and Innovation Foundation
1101 K Street NW, Suite 610A
Washington, DC 20005
Add to Calendar13-05-2015 09:00:0013-05-2015 10:30:0015Inclusive Prosperity Without the Prosperity: Why the Democrats’ “Middle-Out” Economic Formula Is a Bad Recipe for 2016DD/MM/YYYY

To grow or to redistribute, that is a question up for debate as we head into the 2016 presidential campaign. Many are urging the next Democratic standard bearer to embrace the latter—redistribution and fairness framed as a “middle-out” strategy—as not only the right political strategy but the right economic strategy. Emblematic of this is the recent “Report of the Commission on Inclusive Prosperity,” issued by the Center for American Progress. The report lays out a narrative that has become the basic economic wisdom for many Democrats: that the central challenges of our time are inequality and dwindling opportunity; that economic policy must focus on more equitable distribution of output; and that doing so will result in superior rates of economic growth. But the “middle-out” policy agenda skews heavily toward redistributing America’s current $17.7 trillion GDP and will do little to “grow the pie,” because it will not boost the most important drivers of economic prosperity: productivity, innovation, and competitiveness. What Democrats (and Republicans) need is a growth strategy grounded neither in conservative, supply-side economics nor in liberal, demand-side economics, but rather in an innovation economics, which helps enterprises increase their demand for the real drivers of growth: research and development, skilled workers, and new capital equipment.

Please join ITIF for a discussion of the limits of the “middle-out” strategy and what kind of growth agenda America needs so that all Americans can prosper going forward.

This event is free, open to the public, and complies with ethics rules.

Panelists: 
Robert D. Atkinson
President
Information Technology and Innovation Foundation
Moderator, Presenter
Martin Neil Baily
Director of the Business and Public Policy Initiative
Brookings Institution
Presenter
Michael Lind
Policy Director
New America Foundation
Presenter
Robert E. Litan
Nonresident Senior Fellow
Brookings Institution
Presenter
Michael Mandel
Chief Economic Strategist
Progressive Policy Institute
Presenter
Zach Silk
Veteran political strategist and serial entrepreneur
Presenter