Reimagining the Economy

Economics and economic policy are in flux

Prevailing policy mindsets have not only failed to produce robust economic growth, but have also resulted in increased inequality and economic insecurity. Societies are hostage to financial crises, the advance of climate change, and a lack of good jobs. When unexpected shocks hit, the vulnerabilities of the disadvantaged are further compounded.

We aim to piece together a range of ideas, disciplinary thinking, and perspectives to produce multidisciplinary scholarship that reshapes narratives about how we achieve inclusive prosperity.

Piecing together a complex puzzle

Reimagining the Economy is an economics-centered, but multidisciplinary initiative. We use the theoretical and empirical tools of economics, but are also informed and enriched by the thinking in other disciplines. Our ultimate goal is to go beyond the analysis of how our current economy works (or doesn’t) to piece together new structures, governance mechanisms, and forms of market economy and capitalism. We combine analyses of existing arrangements with an examination of alternative designs for market institutions. We undertake studies of economic transformation at all levels: local, regional, national, and global. And we attempt to bring together analyses of the range of public inputs that generate inclusive prosperity – from finance and firm support to workforce development.

Featured Work

A considerable literature that has developed in recent years providing rigorous evidence on how industrial policies work. Dani Rodrik, along with Nathan Lane and Réka Juhász review the standard rationales and critiques of industrial policy and provide an overview of new approaches to measurement

The New Economics of Industrial Policy

Society’s transition toward more sustainable energy sources is well underway. But substantially reducing the use of fossil fuels will profoundly disrupt the communities that currently dedicate themselves to carbon-intensive industries. Gordon Hanson writes for the Aspen Economic Strategy Group.

Local Labor Market Impacts of the Energy Transition

The United Kingdom faces a good-jobs challenge. The British economy falls short on inequality metrics on the one hand, and average household disposable income levels on the other. Vidit Doshi, Huw Spencer, and Dani Rodrik set out what a new approach for the UK economy could look like.

Creating a Good Jobs Economy in the UK

Economic policy needs to be guided by an overall animating vision. Dani Rodrik describes an approach he calls "productivism," which prioritizes the dissemination of productive economic opportunities throughout all regions of the economy and segments of the labor force.