Measure What Matters: Realigning Measures of Economic Success with Societal Well-Being

By all the usual measures, the US economy is healthy. Unemployment is low, job growth continues to be robust, GDP is growing and 2019 was a great year on Wall Street. But while economic measures indicate a strong economy, too many people’s economic lives are precarious. Stagnating wages, rising expenses, uncertain incomes and limited opportunities to get ahead leave far too many people across the country feeling left out of today’s economic success. What is missing from our economic measures? And how could better measures help us address the economic divides and build shared prosperity? In a new book Unbound: How Inequality Constricts Our Economy and What We Can Do About It, Heather Boushey, President and CEO of the Washington Center for Equitable Growth, considers how inequality is restricting growth and imagines how a more equitable economy would function. The book also raises two key questions: How can we better measure our economy to understand how it can improve the lives of individuals and how do we better support working families so we can set them and their children up for success? The Economic Opportunities Program, Ascend, Financial Security Program, and Program on Philanthropy and Social Innovation host a book talk with Heather and a panel discussion including other experts to explore these questions about defining and measuring economic success and how we can work more broadly to create growth with purpose. This event features Heather Boushey (President and CEO, Washington Center for Equitable Growth), Daniel Alpert (Managing Partner, Westwood Capital LLC and Affiliates), Sapna Mehta (Director of Policy and Research, Groundwork Collaborative), and moderator Maureen Conway (Vice President for Policy Programs, The Aspen Institute; Executive Director, Economic Opportunities Program). This event is part of the Opportunity in America series, an ongoing discussion series hosted by the Aspen Institute Economic Opportunities Program. We are grateful to the Ford Foundation, Prudential Financial, Walmart.org, and the Mastercard Center for Inclusive Growth for their support of this series. For more information, visit as.pn/opportunityinamerica. The Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy. We recognize that race, gender, and place intersect with and intensify the challenge of economic inequality and we address these dynamics by advancing an inclusive vision of economic justice. For over 25 years, EOP has focused on expanding individuals’ opportunities to connect to quality work, start businesses, and build economic stability that provides the freedom to pursue opportunity. Learn more at as.pn/eop.