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Revising Policy Assumptions in the Wake of The Great Recession

Implications for the Social Contract

The Great Recession has undermined the economic security of most Americans and exposed the limits of the existing American social contract. The widespread hardship caused by job losses, stagnant wages, and rising foreclosures makes it urgently necessary for public policies to create jobs, provide essential benefits, and maximize basic economic security. Crafting an effective response will require a revisiting of the prevailing policy assumptions underlying the social contract to see which ones need to be discarded, added, or reinforced.

At this New America event, sponsored jointly by the Economic Growth and Asset Building programs, America’s leading public policy experts convened to assess the condition of the American labor market, the adequacy of the social safety net, and the future role of credit and homeownership. Video of the keynote address is available above; recordings of the day's panel discussions will be posted as they become available.

Transcript of Jared Bernstein's speech

For those attendees who did not receive the packet of materials at the event, you can access each of the papers/reports at the links below.


8:30AM to 9:00AM: Registration and Coffee

9:00AM to 9:15AM: Welcome and Introduction

9:15AM to 10:10AM: The Need for New Approaches to Full Employment

Sherle Schwenninger (Presentation)
Director, Economic Growth Program, New America Foundation

Heidi Shierholz (Presentation)
Economist, Economic Policy Institute

James Galbraith
Lloyd M. Bentsen Jr. Chair in Government/Business Relations
Professor of Government, University of Texas at Austin

Michael Lind (Presentation)
Policy Director, Economic Growth Program, New America Foundation

10:10AM to 11:05AM: The Adequacy of the Social Safety Net

Heather Boushey
Senior Economist, Center for American Progress

Christopher Howard
Pamela C. Harriman Professor of Government and Public Policy
College of William & Mary

Michael Lind
Policy Director, Economic Growth Program, New America Foundation

Mark Schmitt
Executive Editor, The American Prospect

11:05AM to 12:00PM: Credit, Savings, and Homeownership

Jonathan Mintz
Commissioner, Department of Consumer Affairs, City of New York

Sarah Rosen Wartell
Executive Vice President, Center for American Progress

Mike Konczal
Fellow, Roosevelt Institute
Author, Rortybomb

Reid Cramer
Director, Asset Building Program, New America Foundation

12:00PM to 1:00: Keynote Speaker and Lunch

Jared Bernstein
Chief Economist, Economic Policy Adviser to Vice President Joseph R. Biden

Event Time and Location

Tuesday, October 26, 2010 - 9:00am - 1:00pm
Ronald Reagan Building and International Trade Center
1300 Pennsylvania Avenue NW - Pavilion Room
Washington, DC 20004

Video Clips

See video
Video of Intro and Panel 1
See video
Video of Panel 2
See video
Video of Panel 3