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Jan 22, 2025 | 
aei.org | R. Glenn Hubbard
By setting an ambitious 3% growth target, US Treasury Secretary nominee Scott Bessent has provided the Trump administration a North Star to follow in devising its economic policies. The task now is to focus on productivity growth and avoiding any unforced errors that would threaten output. US Treasury Secretary nominee Scott Bessent is right to emphasize faster economic growth as a touchstone of Donald Trump’s second presidency.
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Nov 6, 2024 | 
aei.org | R. Glenn Hubbard |Doug Elmendorf |Wendy Edelberg |Janice Eberly
When Congress considers legislation, nonpartisan agencies provide estimates of the law’s potential economic effects to policymakers, a process known as “scoring.” In recent decades, analysts at the Congressional Budget Office and Joint Committee on Taxation have developed models that incorporate complex feedback effects, going beyond conventional scoring techniques.
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Nov 5, 2024 | 
brookings.edu | Janice Eberly |Wendy Edelberg |Douglas W. Elmendorf |R. Glenn Hubbard
When Congress considers legislation, nonpartisan agencies provide estimates of the law’s potential economic effects to policymakers, a process known as “scoring.” In recent decades, analysts at the Congressional Budget Office and Joint Committee on Taxation have developed models that incorporate complex feedback effects, going beyond conventional scoring techniques.
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Sep 26, 2024 | 
aei.org | R. Glenn Hubbard |Douglas W. Elmendorf |Heidi Williams
AbstractBy design, official budget estimates for legislative proposals generally exclude the proposals’ likely effects on levels of labor, capital, productivity, and other economic outcomes, as well as any feedback effects from changes in those outcomes to the federal budget.
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Sep 23, 2024 | 
aei.org | Michael Strain |R. Glenn Hubbard
The views expressed in this report are those of the individual authors who collectively constitute the Grand Bargain Committee, co-chaired by Michael R. Strain and Isabel V. Sawhill. This report was sponsored by the Center for Collaborative Democracy and was prepared independent of influence from the center and from any other outside party or institution.
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Aug 13, 2024 | 
aei.org | James Pethokoukis |R. Glenn Hubbard |Julia Cataneo
Growth is good for everyone in an economy, but it is also inherently disruptive. Today on Political Economy, I talk to Glenn Hubbard about why fear of change can trap us in an economic zero-sum game, and how embracing the growing pains of innovation can free us from that scenario, making things better for everybody. Hubbard is a nonresident senior fellow here at AEI, where he writes about a wide range of economic topics, from poverty to international finance.
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Aug 13, 2024 | 
aei.org | James Pethokoukis |R. Glenn Hubbard
Growth is good for everyone in an economy, but it is also inherently disruptive. Today on Political Economy, I talk to Glenn Hubbard about why fear of change can trap us in an economic zero-sum game, and how embracing the growing pains of innovation can free us from that scenario, making things better for everybody. Hubbard is a nonresident senior fellow here at AEI, where he writes about a wide range of economic topics, from poverty to international finance.
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Jul 18, 2024 | 
aei.org | R. Glenn Hubbard
Many issues divide voters heading into the November election, but the economy may be the most crucial. Sound economic policy can foster prosperity and high living standards and affect income and opportunities. Economic resources can also enable society to fund defense or address social and environmental concerns. Conservative economic policy traditionally has emphasized the openness of markets and growth.
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Jun 18, 2024 | 
aei.org | R. Glenn Hubbard
The advent of “Bidenomics” has resurrected decades-old debates about the merits of markets versus industrial policy.
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Apr 26, 2024 | 
aei.org | R. Glenn Hubbard
In a campaign season dominated by the past, a central economic topic is missing: growth. Rapid productivity growth raises living standards and incomes. Resources from those higher incomes can boost support for public goods such as national defense and education, or can reconfigure supply chains or shore up social insurance programs. A society without growth requires someone to be worse off for you to be better off. Growth breaks that zero-sum link, making it a political big deal.
