AGENDA FOR SHARED PROSPERITY

For six months, EPI and a group of 50 economists and policy experts have joined together to develop a comprehensive, achievable, and workable economic plan that will reduce economic insecurity and provide broadly shared prosperity.

The Agenda for Shared Prosperity will address the growing gap between America's promise and its problems. The United States is rich in resources, with an energetic and entrepreneurial population, a $13 trillion economy, the world's most advanced technologies, and a democratic system that is an inspiration for the world. But for most of the past quarter century, failed economic policies have left the nation with stagnant living standards for the overwhelming majority, increased inequality that is polarizing our society and distorting our democracy, and for most families a growing insecurity fueled by concerns over health care, prospects for retirement, and access to college.

Responding to this crisis, the Agenda for Shared Prosperity is based on a simple idea: the success or failure of our economy is measured not by the value of the stock market or the size the gross domestic product, but rather by the extent to which the living standards of the vast majority of Americans are rising. We will propose and promote ideas that are honest enough to gain public credibility, inspiring enough to give hope, and ambitious enough to match the scale of our problems.

The kickoff event will occur on January 11. Senator James Webb will be the keynote speaker; Jacob Hacker (Yale University) will present a health care proposal to provide affordable and universal coverage; and Jeff Faux (EPI distinguished fellow) will present a policy agenda to shape globalization so that it benefits working people here and abroad. Video, audio, and other information will be available at www.SharedProsperity.org when it launches in January.

The Agenda for Shared Prosperity will unveil additional proposals on February 22 and regularly thereafter, as well as release a new report providing a narrative about the economy—how we got where we are, and what economic challenges we face. This February report will explain the policies—government retrenchment, deregulation, privatization, deunionization, globalization—responsible for America's stagnating living standards, and outline a bold policy agenda to address the serious problems our nation faces.

RECENT EPI PUBLICATIONS

Talking Past Each Other
In a series of focus groups in 2005 and 2006, EPI asked middle-class Americans to discuss their economic insecurities. The discussions revealed not only a profound ambivalence about the economy, but also a widening gap between the ways that everyday Americans and influential elites talk about the economy. Co-authored by David Kusnet, Lawrence Mishel, and Ruy Teixeira, Talking Past Each Other: What Everyday Americans Really Think (and Elites Don't Get) About the Economy discusses that gap and how to bridge it, allowing for changing economic, social, and political conditions. The study includes a special section that offers 12 suggestions for how to 'speak American' when talking about economics.

Working families falling behind on consumption
Little-known data on consumer spending show that only high-income households have been able to raise their living standards in recent years. A joint report from EPI and the Center on Budget and Policy Priorities analyzes U.S. Labor Department data and finds that, between 2000 and 2005, consumption grew among high-income households, remained stagnant among middle-income households, and declined among low-income households.

Tort costs and the economy: Myths, exaggerations, and propaganda
Critics of the U.S tort system claim there is a tort crisis in the United States and that the economy would benefit if the rights of tort plaintiffs were limited. Yet evidence shows otherwise. In Tort Costs and the Economy, EPI Vice President and Policy Director Ross Eisenbrey reviews the tort system's most commonly alleged economic costs and impacts and shows that most have little or no basis in reality.

EPI ON THE MINIMUM WAGE

Hundreds of economists Say: Raise the minimum wage
Five Nobel Prize winners and hundreds of other leading economists urge a raise in the minimum wage. Read their statement.

State minimum wages: A policy that works
Although the federal minimum wage last rose in September 1997, minimum wages in the United States have not been static since then. Through the end of 2005, 17 states and the District of Columbia raised their minimum wages a total of 47 times. What is the effect of these state policies? The new Briefing Paper, State Minimum Wages: A Policy That Works, is an in-depth analysis that shows that wages are higher and employment is no lower in these states than they would have been without the changes.

Securing the wage floor
The federal minimum wage has not seen an increase since 1997 and its value has dropped by 20% since then. In inflation-adjusted dollars, it is at its lowest value in 50 years. Automatic annual adjustments to the wage, or indexing, has gained increasing support and is becoming more common among the U.S. states that have their own minimum wage laws. This new Briefing Paper, Securing the Wage Floor, reviews how indexing would maintain the value of the federal minimum wage.

Minimum wage trends: Understanding past and contemporary research
Recent research has shown that the job loss reported in earlier analyses does not, in fact, occur when the minimum wage is increased. Get the facts in the EPI Briefing Paper, Minimum Wage Trends: Understanding Past and Contemporary Research.

Raising the minimum wage to $7.25 is an important first step
The new Congress is poised to raise the minimum wage for the first time in nine years. But the increase is modest and there is more work to be done to help our lowest-paid workers benefit from the growing U.S. economy. EPI's latest Policy Memo discusses the need to reset the wage floor to a meaningful level.

RESEARCH/POLICY DIRECTOR OPENING AT EPI

EPI is searching for a new research & policy director to oversee a staff of approximately 25 people who carry out research and policy analysis in areas including tax and budget policy, macroeconomics, education, international trade and finance, and labor economics. The candidate hired is expected to continue to develop their own research agenda and to be available for public speaking and media work.

A strong background of supervisory experience is required, along with significant research experience and an advanced degree in economics, public policy, or a related field. The successful candidate will have a strong publications record; experience in popular writing; and fundraising would also be of value.

The Economic Policy Institute is an equal opportunity, affirmative action employer. To apply, send cover letter, vita, references, and writing samples to: Economic Policy Institute, 1333 H Street, NW, 3rd Fl, Washington, D.C. 20005, Attn: Stephanie Scott (sscott@epi.org).

EPI is also seeking to hire an economic analyst, an accounting associate, and two research assistants.

The mission of the Economic Policy Institute is to provide high-quality research and education in order to promote a prosperous, fair, and sustainable economy. The Institute stresses real world analysis and a concern for the living standards of working people, and it makes its findings accessible to the general public, the media, and policy makers.