Economic Recovery

Globalization Initiative

NDN's Globalization Initiative was established to promote economic growth and restore broad-based prosperity in our globalized economy. Chaired by Dr. Robert Shapiro, Under Secretary of Commerce for Economic Affairs under President Bill Clinton, the program works to address the structural changes affecting the American and global economies. NDN argues that a "lost decade," marked by declining household incomes, remains the most important factor in the American economy and politics.

Our agenda for addressing the structural changes inherent in the era of globalization includes three key components: modernizing our healthcare and energy policies, investing in 21st century skills and infrastructure, and accelerating innovation across the economy. NDN also continues to play a major role in the debate over how to best manage the Great Recession and fosters dialogue around renewing the national consensus on global economic liberalization.


Papers and Memos

A New, Progressive Economic Strategy for America released 5/11: By Robert J. Shapiro
Written over a series of weeks in April 2010, this collection of four pieces lays out a new economic strategy for America that creates broad-based prosperity and addresses the America's great economic challenges in the era of globalization.

 
Building on recent struggles in Congress to do more for the economy than pass the extension of unemployment insurance, NDN outlines a political and policy framework to take steps in 2010 that promote near-term job creation and economic growth.

 
In this white paper, Globalization Initiative Deputy Policy Director Jake Berliner describes the rise of new economic powers and the challenges and opportunities they are presenting the American and global economies.

 
Keeping the Focus on the Struggle of Everyday People: 2010 Edition 1/26/10: By Simon Rosenberg
This memo argues that the nation would benefit from a shift to economic rhetoric and policy geared towards the struggle of everyday Americans. 
Simon argues that the second generation Obama narrative must be a strategic response to the most significant transformation taking place in the world today, what Fareed Zakaria has called the “rise of the rest.” While the true scope of this transformation is only really becoming apparent now, it leaves our new President with the historic opportunity, and tremendous responsibility, to craft a comprehensive strategic response to this global “new politics” of the 21st century.
 
A Lost Decade for Everyday Americans 12/17/09:  By Jake Berliner
In this paper, Jake Berliner, Deputy Policy Director of NDN's Globalization Initiative, argues that everyday Americans are at the end of a “lost decade” and explains the still misunderstood causes of the virulence of the recession.

The Key to the Fall Debate: Staying Focused on the Economy 9/03/09: By Simon Rosenberg
The last few months have not been good ones for Democrats, but there is a road map for how they can get back on track, and it revolves around staying relentlessly focused on the economy and the struggle of every day people.
 
A Stimulus for the Long Run 11/14/08: By Simon Rosenberg and Robert J. Shapiro
Congress and President-elect Obama can use the stimulus not only to create more jobs, but to do so in ways that will drive the development of a 21st century economic infrastructure.

This narrative setting essay argues that leaders must do more to staunch the foreclosure crisis, which was at the heart of the financial meltdown.

The Idea-Based Economy and Globalization 1/23/08: By Robert J. Shapiro
U.S. companies and workers lead the world in developing and applying new intellectual property, a critical advantage in innovation that policymakers should seek to advance in the age of globalization.

Investing in Our Common Future: U.S. Infrastructure 11/13/07: By Michael Moynihan
Michael Moynihan looks at the current state of public investment in infrastructure and proposes a set of measures to restore our national political will and improve funding mechanisms to rebuild and advance U.S. infrastructure.

This presentation details the results of extensive polling conducted by NDN and Benenson Strategy Group in October of 2007 on the American public's opinions about globalization and the changing economy.

NDN Poll: Americans’ Views of the Present and Future Economy - Anxiety and Opportunity 11/6/07: By Pete Brodnitz
NDN, a progressive think tank and advocacy organization, completed a national survey on the economy and globalization on October 15th. This memo is the second of two memos outlining key findings and analysis from the poll.

NDN Poll: Clamoring for Change, Persistent Pessimism, Democrats Dominating on Economic Issues
11/2/07: By Pete Brodnitz
NDN, a progressive think tank and advocacy organization, completed a national survey on the economy and globalization on October 15th. This is the first of two memos outlining key findings and analysis from the poll.

Tapping the Resources of America’s Community Colleges: 7/26/07: By Robert J. Shapiro
Young Americans are increasingly adept at working with computers, but many American workers still lack those skills. Here, we propose a direct new approach to giving U.S. workers the opportunity to develop those skills.

We can address the challenges of the 21st century economy without sacrificing the benefits of globalization and technological advance, principally by expanding public investments in critical areas and reforming health care and energy policies.
 
A Laptop in Every Backpack 5/1/07: By Simon Rosenberg
We believe that America needs to put a laptop in every backpack of every child. We need to commit to a date and grade certain: we suggest 2010 for every sixth grader.
 
Voters Deliver a Mandate for a New Economic Strategy 11/10/06: By Simon Rosenberg
The American people want the new Democratic majorities in the House and Senate to focus and pursue an aggressive strategy to help them and their families get ahead.
 
Crafting a Better CAFTA 6/9/05: By Simon Rosenberg
We believe that an agreement with Central America is so important to how Americans approach the 21st century that we must commit ourselves to help negotiate and pass a better CAFTA.

Major Events

Growing the Next Economy 12/7/11
On Wednesday, December 7th, NDN hosted the Director of Multi-State Initiatives in the Office of Oregon Governor John Kitzhaber and Karl Agne, a partner at GBA Strategies, for a lunchtime discussion about bottom up economic growth, accelerating the ideas that work, and creating the Next Economy. Joining us were 

A Look at Current Global & Domestic Economic Challenges 7/26/11
On Tuesday, July 26th NDN hosted a morning conversation about the economic challenges facing America and the world featuring views from the United States Senate, House and the British House of Commons.

Under Secretary of Commerce for International Trade Francisco J Sanchez at NDN 4/26/11
On Tuesday, April 26, NDN hosted Under Secretary of Commerce for International Trade Francisco J Sanchez. Sanchez was joined by NDN Globalization Initiative Chair and former Under Secretary of Commerce for Economic Affairs Dr. Robert Shapiro.

National Economic Council Deputy Director Jason Furman on Winning the Future 2/22/11
Following the release of the President's budget, Jason Furman, the Principal Deputy Director of the National Economic Council joined NDN for a discussion of the budget, the economy, and the President's strategy to make America competitive in the global economy of the 21st century.

Under Secretary of State for Economic Affairs Robert Hormats on Global Economic Challenges 11/15/10
On November 15, NDN hosted Under Secretary of State for Economic, Energy, and Agricultural Affairs Robert Hormats for an important address on global economic challenges.

US Ambassador to the OECD Karen Kornbluh on Jobs for the Future 7/27/10
On July 27, NDN hosted the United States' Ambassador to the Organization for Economic Cooperation and Development (OECD), Karen Kornbluh. Ambassador Kornbluh, who previously served as Senator Barack Obama's Policy Director and as Deputy Chief of Staff at the Treasury Department, discussed a wide range of issues in creating "Growth and Jobs for the Future," from youth unemployment, to innovation, to U.S. engagement at the OECD.

On Wednesday, June 16, NDN hosted a speech by Congressman Ron Kind (WI-3), Vice-Chair of the New Democrat Coalition and Co-Chair of the NDC Task Force on Innovation and Competitiveness. Kind spoke about the value of innovation to the American economy and the recently released New Dem Agenda for Innovation and Entrepreneurship. Kind was joined by NDN President Simon Rosenberg.

Fred Hochberg, Chairman and President of the Export-Import Bank of the United States, Speaks at NDN. 6/10/10
On June 10 NDN hosted a speech from the Chairman and President of the Export-Import Bank, Fred Hochberg, on the National Export Initiative and the work of the Export-Import Bank. NDN Globalization Initiative Chair Dr. Robert Shapiro moderated a discussion and Q&A following the Chairman's remarks.

Senator Mark Warner on Economic Competitiveness and Innovation 3/18/10
On Thursday, March 18, Senator Mark Warner joined NDN to address America's economic competitiveness in a rapidly changing global economy. He discussed the role of innovation in creating prosperity and offered his perspective on the Senate's work to craft a new economic strategy for America, which includes reforming the nation's health care and financial sectors.

FCIC Chairman Phil Angelides on “Examining Our Financial Past to Secure Our Economic Future” 2/2/10
On Tuesday, February 2, NDN hosted an address from Phil Angelides, Chairman of the Financial Crisis Inquiry Commission. Formerly the Treasurer of the State of California, Mr. Angelides has been charged by Congress to lead the effort examining the causes of the worst financial crisis since the Great Depression. He discussed the commission's work, which began in earnest in February with much anticipated hearings. NDN Globalization Initiative Chair Dr. Robert Shapiro introduced Mr. Angelides and opened the event with contextual remarks.

Blogs

Visit the Globalization Initiative blog for more of our ongoing work.

Visit Globalization Initiative Chair Robert Shapiro's blog.

Visit Globalization Initiative Deputy Policy Director Jake Berliner's blog.

The Globalization Initiative was established to promote economic growth and restore broad-based prosperity in our globalized economy, with a focus on modernizing economic policy, investing in workers and students, and accelerating innovation.

The GOP's Early Response to Obama Has Been Catastrophic

The weekly Kos track is out, and the central dynamic of this new political year remains unchanged: Barack Obama has become a towering and popular figure, the Democratic Party retains its relatively strong position, and the already unpopular GOP had paid a heavy price for opposing the President in his efforts to lead America to recovery.  

I've been writing about how one of the central stories of the new Obama era would be how the GOP struggled with the new realities of this new political era. With the rise of Rush, the struggles of Steele, the disapointment of Jindal, the lack of any attractive savior on the horizon and the just plain irresponsibility and awfulness of their Congressional leaders in a time of national crisis the GOP truly appears to be a political party facing a long road back.  

Remember, in this Kos poll Obama is at 69, Boehner 15.  The Congressional Dems are at 45, the Congressional GOP is at 15.  There can be no other conclusion than this early engagement with the President has been catastrophic for the GOP, and that they will need to find a new way to work with the President.  

Rob Shapiro has a great new essay on the inanity of the GOP's emerging economic arguments, and I discussed all this with Norah O'Donnell on MSNBC earlier this week.

10am Update: From a new Newsweek poll getting a lot of attention this morning: 

Despite the tumbling economy, Barack Obama continues to enjoy a honeymoon with the American public in the face of the most trying crisis any newly inaugurated president has encountered since Franklin Delano Roosevelt. The GOP, meanwhile, is viewed by a majority of Americans as the party of "no," without a plan of its own to fix the economy, and even rank-and-file Republicans are concerned about the party's direction, according to the first NEWSWEEK Poll taken since Obama assumed office.

"People give Obama credit for reaching out to Republicans, but they don't see Republicans reciprocating," says pollster Larry Hugick, whose firm conducted the survey. "A surprising number said bipartisanship is more important than getting things done."

Overall, 58 percent of Americans surveyed approve of the job Obama is doing, while 26 percent disapprove and one in six (16 percent) has no opinion. Although his approval ratings are down from levels seen a few weeks ago in other polls, 72 percent of Americans still say they have a favorable opinion of Obama-a higher rating than he received in NEWSWEEK Polls during the presidential campaign last year. The president's rating in this poll is consistent with estimates provided by other national media polls in the last week.

Spend? Save? The debate continues

In an article today, Spend or Save? Trick Question, The New York Times' David Leonhardt looks into a question I posed a week ago, and which NBC's Chuck Todd asked the President  Monday night - whether it is best for American consumers now to spend, or save.  He begins:

It's your fault. Part of it is, anyway. You, the American consumer, spent too much money. You bought too much house, took on too much debt and generally lived beyond your means. Your free-spending ways helped cause the worst financial crisis since the Great Depression.

And now you're going to have to do your part to end the crisis. How? By spending. Enough already with the saving that many of you have suddenly begun doing. This very moment, Congress and President Obama are preparing to send you a tax rebate, to inspire you to stimulate the economy. So go out and stimulate. Spend as if the future of your country depended on it.

John Maynard Keynes, the great 20th-century economist, would have appreciated the apparent absurdity in these mixed messages. He coined a phrase, "the paradox of thrift," to point out that what was rational for an individual during hard times - saving money - could be ruinous for an entire economy. Eventually, many of the savers may end up out of work because everyone else is saving, too.

It's enough to make you wonder what exactly you're supposed to do. At his news conference on Monday night, Mr. Obama was asked directly whether people should spend or save their rebate checks. He ducked the question.

Fortunately, though, it has an answer. There are a few ways to help both your own finances and the country's.

Read on.  How Americans answer this question will go a long way to determining the length and depth of the current global recession.  Leonhardt concludes that the best course is for America to invest in projects that provide both short term stimulus and prepare America for future growth and prosperity.   This is the same conclusion Rob and I reached in our November memo, A Stimulus For the Long Run, and has been at the core of our advocacy these past few months.

We are very proud that many of the items we advocated in this memo - health IT, greening federal buildings and vehicle fleets, extending unemployment insurance and backstopping the states, investing in broadband and 21st century schools, modernizing the electrical grid - are still in the mix for the final Economic Recovery legislation and are at the very core of our emerging economic strategy.  

Syndicate content