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The United States after the great recession: the challenge of sustainable growth

Abstract

The paper outlines the strengths and weaknesses of the U.S. economic growth model, assesses its’ ability to respond to the key economic, environmental and social challenges currently facing the U.S. and proposes policies that if adopted would move the U.S. onto a more sustainable growth path. The paper provides scenarios of projected future growth trajectories, as well as recommendations for specific policies in key areas: employment, infrastructure, energy and fiscal rebalancing. To reach this goal this paper focuses on four areas for action: Increasing employment, which is the most urgent priority to accelerate recovery from the Great Recession, while addressing underlying structural issues that have led to a decade of poor economic outcomes for most citizens; Investing in the future, as the key marker of whether the United States is prepared to make farsighted decisions to improve education, build new infrastructure and increase innovation; Maximizing an increased energy endowment in a way that grows the economy, while reinforcing the trend towards reducing resource demand and reducing greenhouse gas emissions; and, Fiscal rebalancing, where the United States must insulate economic recovery from the process of fiscal reform while reducing and stabilizing debt over the long term. Finally, we argue that President  More>>
Authors:
Meltzer, Joshua; [1]  Steven, David; [2]  Langley, Claire [3] 
  1. The Johns Hopkins University’s School of Advanced International Studies (United States)
  2. The Brookings Institution Center and the Center on International Cooperation at New York University (United States)
  3. The Brookings Institution, Washington, DC (United States)
Publication Date:
Feb 15, 2013
Product Type:
Miscellaneous
Resource Relation:
Other Information: Working Paper 60
Subject:
29 ENERGY PLANNING, POLICY AND ECONOMY; USA; ENERGY POLICY; SUSTAINABLE DEVELOPMENT; SOCIO-ECONOMIC FACTORS; ECONOMIC IMPACT; TECHNOLOGY IMPACTS; GREENHOUSE GASES; MITIGATION; FINANCING; EMPLOYMENT
OSTI ID:
22110339
Research Organizations:
The Brookings Institution, Washington, DC (United States). Global Economy and Development
Country of Origin:
United States
Language:
English
Other Identifying Numbers:
TRN: US13OA567
Availability:
Commercial reproduction prohibited. Available from ETDE as OSTI ID: 22110339; See the Brookings Institution website for other publications of possible interest in the energy and environment area at http://www.brookings.edu/research/topics/energy-and-environment
Submitting Site:
ETDE
Size:
58 page(s)
Announcement Date:
Jul 06, 2013

Citation Formats

Meltzer, Joshua, Steven, David, and Langley, Claire. The United States after the great recession: the challenge of sustainable growth. United States: N. p., 2013. Web.
Meltzer, Joshua, Steven, David, & Langley, Claire. The United States after the great recession: the challenge of sustainable growth. United States.
Meltzer, Joshua, Steven, David, and Langley, Claire. 2013. "The United States after the great recession: the challenge of sustainable growth." United States.
@misc{etde_22110339,
title = {The United States after the great recession: the challenge of sustainable growth}
author = {Meltzer, Joshua, Steven, David, and Langley, Claire}
abstractNote = {The paper outlines the strengths and weaknesses of the U.S. economic growth model, assesses its’ ability to respond to the key economic, environmental and social challenges currently facing the U.S. and proposes policies that if adopted would move the U.S. onto a more sustainable growth path. The paper provides scenarios of projected future growth trajectories, as well as recommendations for specific policies in key areas: employment, infrastructure, energy and fiscal rebalancing. To reach this goal this paper focuses on four areas for action: Increasing employment, which is the most urgent priority to accelerate recovery from the Great Recession, while addressing underlying structural issues that have led to a decade of poor economic outcomes for most citizens; Investing in the future, as the key marker of whether the United States is prepared to make farsighted decisions to improve education, build new infrastructure and increase innovation; Maximizing an increased energy endowment in a way that grows the economy, while reinforcing the trend towards reducing resource demand and reducing greenhouse gas emissions; and, Fiscal rebalancing, where the United States must insulate economic recovery from the process of fiscal reform while reducing and stabilizing debt over the long term. Finally, we argue that President Obama can re-energize America’s global leadership if he builds on a platform of domestic actions that enhance the sustainability of America’s society and economy.}
place = {United States}
year = {2013}
month = {Feb}
}