Economic Innovation Group

??We are hiring! EIG is seeking a Research and Policy Intern for the Spring 2025 semester. Current third or fourth-year undergraduates, graduate students, and recent graduates are encouraged to apply! Apply here: https://lnkd.in/gVrwNX6e?

We are thrilled to announce that Jed Kolko has joined EIG’s Economic Advisory Board. Kolko brings extensive experience in economic research and policy, further strengthening EIG's mission to advance solutions for a more dynamic and inclusive American economy. “We are thrilled to welcome Jed to our Advisory Board,” said EIG Chief Economist Adam Ozimek. “His important work on economic geography and recent contributions to the Commerce Department make him an invaluable asset to our mission. We’re eager to draw on his expertise to address the critical challenges facing communities across America.” “It's an honor to join the distinguished researchers on the EIG Economic Advisory Board and to support the work of the talented and creative EIG team,” said Kolko. “The Economic Innovation Group is a leader in researching the issues that drive long-term prosperity for all Americans and their communities, through rigorous and fearless analysis.” Most recently, Kolko was the Under Secretary of Commerce for Economic Affairs in the Biden-Harris Administration, a role in which he served as the principal economic advisor to Secretary Gina Raimondo. He also launched the Regional Economic Research Initiative and he oversaw and provided policy direction to the Census Bureau and the Bureau of Economic Analysis. Kolko earlier served as chief economist at Indeed and Trulia, is a contributor to the New York Times’ Upshot section, and serves on the board of directors of the National Association for Business Economics and the California Budget and Policy Center. https://lnkd.in/ee7D25_3

Introducing EIG’s new Substack newsletter: Agglomerations! Lively debates with our critics, new ideas from EIG, Q&As, original charts and graphs, and more fun stuff — Agglomerations offers something for everyone. Learn more and subscribe here: https://lnkd.in/eJ5jwNP5

?? We’re pleased to announce that The New Bazaar economics podcast has just released its first episode as part of the Economic Innovation Group, featuring Nobel Prize-winning economist Paul Krugman. ??? Recorded live on September 21st at the #EconTwitterIRL conference in Lancaster, Pennsylvania, Krugman joined host Cardiff de Alejo Garcia on stage for a sweeping conversation. ?? They discussed not only Krugman’s view of the economy and his achievements in economics, but also his approach to communicating his ideas about economics. Among the topics they covered:? - Whether place-based policy works - How Krugman blends style and substance in his writing - How economic geography has changed through the decades - The effects of work-from-home and the dematerializing economy - Krugman’s hippie-punching days in the 1990s? - Why a previous regret no longer bothers him much - Why Democrats seem so bad at running big cities? - The work Krugman is most proud of At the end of this fun, dense, and surprisingly humorous chat, Krugman also answered questions he fielded from the audience of economists, journalists, think tankers, and others in attendance. We encourage you to check out the new episode and subscribe to the podcast on your preferred platform: https://eig.org/newbazaar/ https://lnkd.in/eADGUSbR

Today, EIG released its latest report, The “Great ‘Transfer’-Mation,” which explores the rising significance of government transfers in the U.S. economy. In 2022, 18% of all personal income in the country came from transfer payments like Medicare and Social Security—a share that has more than doubled since 1970. Our report traces the growth of transfer income over the past several decades and highlights the critical implications for American communities. Here are some other key findings: ?? By 2022, 53% of U.S. counties relied on transfers for at least a quarter of their total income—up from just 10% in 2000. ?? An aging population is the main driver behind this shift, with more Americans relying on retirement benefits. ?? Regional disparities are stark: some areas like rural Kentucky rely on transfers for nearly 50% of total income, while wealthier metro hubs see much lower reliance. Alongside the full report, we’ve also created an interactive tool so you can explore this data for yourself! Dive into the numbers and see how government transfers have impacted your community over time. Check out the full report and explore the interactive tool here: https://lnkd.in/eFE3ky-s

Small businesses are the backbone of our communities, but they face many challenges, especially in distressed neighborhoods—the U.S. Chamber of Commerce Foundation is on the front lines of empowering small businesses to boost community resilience. Using our Distressed Communities Index (DCI), the Foundation identifies economically vulnerable areas where programs like BizConnect can make the biggest difference. This year, the Foundation’s BizConnect pilot program provided 19 local businesses in San Antonio, Texas, with invaluable coaching, networking opportunities, and financial assistance. The goal? To strengthen communities through small business growth—creating a ripple effect of resilience against economic uncertainty and change. The result? BizConnect participants increased employee counts by 20 percent on average and gave the program a 9 out of 10 for being extremely beneficial to their businesses. ?? Learn more about how the Foundation is using the DCI to drive economic empowerment: https://lnkd.in/eUpVdbiR

The communities that could benefit most from access to clean energy are often left behind. Clearloop is changing that by partnering with companies to expand access to solar energy in underserved American communities. Using our Distressed Communities Index (DCI), Clearloop identifies economically distressed areas–such as Panola County, Mississippi–to bring long-term environmental, economic, and social benefits through clean energy investments. ?? Project Highlight: Panola County, MS ?? Clearloop's three pioneering solar projects in Panola County, MS, will: ? Power 3,000 homes with clean energy ? Prevent over 1 billion pounds of carbon emissions ? Engage local construction and maintenance services ? Upgrade local distribution lines ? Foster meaningful relationships between corporate partners and the community Clearloop's work is a great example of how clean energy investments can uplift communities that stand to benefit the most, and EIG’s DCI is helping to ensure that their projects create optimal economic, environmental, and health impacts by prioritizing where new solar projects are located. Explore the case study here: https://lnkd.in/eQ9XJABM

EIG’s Benjamin Glasner, PhD sat down with @Spotlight on Poverty & Opportunity to discuss: ?? Key findings from the American Worker Project. ?? How the U.S. economy can reach its full potential. Read more here: https://lnkd.in/edWfYFdd

Yesterday, EIG launched The American Worker Project, a new initiative aimed at forging a much-needed consensus on the true conditions and challenges faced by American workers. Today, we dive deeper into the discussion with responses to the project’s findings from two distinguished voices: ? Paul Krugman of the New York Times; and ? Michael R. Strain of the American Enterprise Institute Their insights enrich our understanding and stimulate discussion on how to best support and empower American workers. Stay tuned as we feature additional thought leaders in the coming weeks, including Steven Davis, Jason Furman, and more, as they contribute their expertise to this important conversation. Explore the American Worker Project and read the latest essays here: eig.org/american-worker

American workers fuel the world's most innovative economy, yet an understanding of how they are doing is obscured by a fog of conflicting narratives and misconceptions. What's the reality? Contrary to the doom and gloom often portrayed, our research shows that American workers are better off than ever before across an array of important measures: ? The median worker is better paid and better educated.? ? Employers have never offered better or more diverse benefits.? ? Long-running surveys show that Americans today are broadly satisfied with their work at levels comparable to prior peak periods. ? Moreover, nearly 90 percent are satisfied with their job security—a near-record share. Despite these gains, progress has slowed since 1980, especially compared to the booming post-war years. This dynamic is a key focus of our new American Worker Project. The project aims to forge a new consensus about the condition of American workers. Along the way, we will present new analyses, guest essays from leading experts, survey data on worker sentiment, and practical ideas for how policymakers can accelerate progress where it has fallen short. Tomorrow, economists Paul Krugman and Michael R. Strain respond to our findings in the first two guest essays. Look out for contributions from Steven Davis, Jason Furman, Marianne Wanamaker, Skanda Amarnath, and more in the coming weeks. Explore the project here: eig.org/american-worker