Today, the AESG released a new paper, "Protectionism is Failing and Wrongheaded: An Evaluation of the Post-2017 Shift toward Trade Wars and Industrial Policy," written by Michael Strain. The paper is part of the AESG's 2024 annual policy volume, "Strengthening America's Economic Dynamism", which will be released across the remainder of this year. The paper evaluates the shift towards increasingly protectionist and nationalist policies carried out by the past two presidential administrations. In the paper, Strain argues that the turn to such economic policies has not only been ineffective by its own standards, failing to raise employment and reduce America’s reliance on China, but also is more fundamentally misguided. Strain concludes that, while free trade has been disruptive, populist policies adopted in response will hurt workers, not help them. Instead, he writes that economic policymakers should focus on connecting workers to opportunities created from open trade, rather than enacting protectionist policies and attempting to recreate jobs of the past. Read the complete paper here: https://lnkd.in/gBPT8R7s
Aspen Economic Strategy Group
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The Aspen Economic Strategy Group promotes evidence-based solutions to significant U.S. economic challenges.
About us
The Aspen Economic Strategy Group (AESG), a non-profit program of the Aspen Institute, is composed of a diverse, bipartisan group of distinguished leaders and thinkers with the goal of promoting evidence-based solutions to significant U.S. economic challenges. Co-chaired by former U.S. treasury secretaries Henry M. Paulson, Jr. and Timothy F. Geithner, the AESG fosters the exchange of economic policy ideas and seeks to clarify the lines of debate on emerging economic issues while promoting bipartisan relationship-building among current and future generations of policy leaders in Washington.
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HAPPENING NOW: Stream “Strengthening America’s Economic Dynamism” LIVE from Aspen. Watch here: https://lnkd.in/gf9t_xSt
Strengthening America’s Economic Dynamism
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TODAY 3:30PM ET/1:30PM MT | Tune into the Aspen Economic Strategy Group's event, "Strengthening America's Economic Dynamism," LIVE from Aspen. Americans are facing an era of economic reconfiguration driven by rising global tensions, technological change, and a populist backlash to the economic status quo. Leaders on both sides of the political aisle are increasingly turning away from free-market principles and endorsing protectionist trade policies and government industrial policy. This shift threatens to end an era characterized by international economic cooperation and broad-based global growth. What does this trend mean for America’s economic dynamism? What steps should US policy and business leaders take to advance innovation, growth, and widespread economic prosperity? Featuring AESG Director Melissa S. Kearney, in conversation with Lawrence H. Summers and Robert B. Zoellick. Livestream: https://lnkd.in/g7vzAsuc Event Webpage: https://lnkd.in/gJx_nJU6
Strengthening America's Economic Dynamism • The Aspen Institute Economic Strategy Group
https://www.economicstrategygroup.org
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THIS WEDNESDAY 7/31 | 3:30PM ET/1:30PM MT Tune into "Strengthening America's Economic Dynamism" LIVE from Aspen. Americans are facing an era of economic reconfiguration driven by rising global tensions, technological change, and a populist backlash to the economic status quo. Leaders on both sides of the political aisle are increasingly turning away from free-market principles and endorsing protectionist trade policies and government industrial policy. This shift threatens to end an era characterized by international economic cooperation and broad-based global growth. What does this trend mean for America’s economic dynamism? What steps should US policy and business leaders take to advance innovation, growth, and widespread economic prosperity? Featuring AESG Director Melissa Kearney in conversation with AESG members Lawrence H. Summers and Robert B. Zoellick. Register here: https://lnkd.in/gJx_nJU6
Strengthening America's Economic Dynamism • The Aspen Institute Economic Strategy Group
https://www.economicstrategygroup.org
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Aspen Economic Strategy Group reposted this
In case you missed it: Commerce Department CHIPS Program Office Director Michael Schmidt stressed the importance of U.S. leadership in semiconductor chip manufacturing and innovation during a conversation hosted by the Aspen Economic Strategy Group yesterday. Watch the full conversation on C-SPAN at the link below.
Aspen Institute Discussion on Semiconductor Chip Manufacturing
c-span.org
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ICYMI: Watch the AESG's event, "Semiconductor Security: The Race to Revitalize US Chip Manufacturing," on our website. https://lnkd.in/gBMvqEeF The event featured opening remarks from AESG Co-Chair & Former United States Secretary of the Treasury Tim Geithner and a panel discussion with Chris Miller, author of Chip War, and Michael Schmidt, Director of the CHIPS Program Office at the U.S. Department of Commerce, moderated by Greg Ip, Chief Economics Commentator at The Wall Street Journal. In conjunction with yesterday's event, AESG Policy Director Luke Pardue published a new IN BRIEF on building a more secure semiconductor supply chain in the US. Read his post here: https://lnkd.in/g54pVnWP
Semiconductor Security: The Race to Revitalize US Chip Manufacturing • The Aspen Institute Economic Strategy Group
https://www.economicstrategygroup.org
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Aspen Economic Strategy Group reposted this
Semiconductors are in almost everything we buy – not just smartphones and computers, but cars and dishwashers too – and they are all over the news right now. Shortages during the pandemic exposed just how fragile our supply of this critical technology is. To bolster America’s semiconductor security, Congress passed the CHIPS and Science Act in 2022. The Biden Administration has been working to implement this landmark law - an undertaking that touches on US technology policy, workforce development, and national security. We've organized a great panel on June 3 at The Aspen Institute's DC office to take stock of how this massive effort is going and to discuss what’s next, featuring: Michael Schmidt, Director of the @Chips for Am CHIPS Program Office at the US Department of Commerce Chris Miller, Author of Chip War, the authoritative book on the history of the semiconductor industry Greg Ip, the Chief Economics Correspondent at The Wall Street Journal Timothy Geithner, 74th Secretary of the Treasury and Aspen Economic Strategy Group Co-Chair, will offer opening remarks. Sign up here!
Semiconductor Security: The Race to Revitalize US Chip Manufacturing • The Aspen Institute Economic Strategy Group
https://www.economicstrategygroup.org
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Register now for the AESG's upcoming event, "Semiconductor Security: The Race to Revitalize US Chip Manufacturing," happening Monday, June 3rd at 11 am ET. The 2022 CHIPS and Science Act is the centerpiece of the federal government’s efforts to rebuild America’s industrial capacity and secure greater independence in the production of critical technologies. Under the law, tens of billions of dollars in subsidies for manufacturing advanced chips have already been announced. This panel will assess this effort, its prospects for success, and how the law, and similar government efforts to promote critical technologies, will affect the US economy in the short and long-term. Featuring Michael Schmidt, Director of the CHIPS Program Office at the U.S. Department of Commerce and Chris Miller, Author of Chip War, in conversation with Greg Ip, Chief Economics Commentator at The Wall Street Journal, and opening remarks from former U.S. Treasury Secretary and AESG Co-Chair Timothy F. Geithner. Register here: https://lnkd.in/gBMvqEeF
Semiconductor Security: The Race to Revitalize US Chip Manufacturing • The Aspen Institute Economic Strategy Group
https://www.economicstrategygroup.org
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New federal data shows that worker productivity in the US is growing at a pace not seen since the 1990s. In his recent Op-Ed in the The Washington Post, AESG Policy Director Luke Pardue breaks down how the surge in small business creation since 2020 is one of the main drivers of this upswing in productivity. https://lnkd.in/gBUsK7Vv Luke expands on the data behind the recent rise in US labor productivity in his latest IN BRIEF. Read it here: https://lnkd.in/gQ49pvic
Opinion | U.S. productivity is popping. And it’s not because of AI.
washingtonpost.com
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Aspen Economic Strategy Group reposted this
“The best-kept secret in the United States is that we are experiencing a productivity boom right now,” Luke Pardue, the policy director of the Aspen Economic Strategy Group, writes in Opinions. “And it’s not because of AI.”
Opinion | U.S. productivity is popping. And it’s not because of AI.
washingtonpost.com