Highlights From Last Week's Economic Symposium

For those of you who attended last Thursday's Bernard L. Schwartz Economic Symposium, thank you for helping to make it such a thoughtful, provocative discussion.

For those who weren't able to attend -- or who now simply want to revisit a particular panel or presentation -- video, transcripts and MP3 audio recordings of the entire event are available on NewAmerica.net.

Highlights from the symposium included:

• Laura D'Andrea Tyson, while allowing that it will be very difficult to get the health I.T. stimulus spending into the economy quickly, declared healthcare reform central to long-term recovery: "[If] you're trying to find a systemic solution to the world economy, and a systemic solution... to the government deficit and debt in the United States, you actually have to start with health."
• Martin Wolf argued that this financial meltdown is just a manifestation of a much larger systemic crisis: "This is not because a few regulators screwed up in the U.S. I think it's extremely important to understand that. It's the end game of a series of massive bubbles, which we have needed to balance the whole world economic system during this particular globalization episode."
• George Soros explained his concept of reflexivity, and why market prices do not merely reflect underlying supply and demand. He also gave the Obama Administration "very high marks in every area except one. That is the recapitalization of the banks."
• Bernard L. Schwartz criticized the Obama Administration for timidity, calling the economic recovery plan "too small, too unfocused, and too short term" -- and "woefully short of meeting the nation's infrastructure deficit."

For all the insights from Thursday's discussions, please see the videos and transcripts.

Yet as Steve Coll noted in his introductory remarks, the challenge of rebuilding the world economy is a core focus for the New America Foundation -- and this symposium was not an end unto itself, but rather a jumping-off point for sustained work and transformational thinking on these issues.   So while there's much to highlight from last week's discussions, we'd also like to call your attention to an important addition that's followed:

This new online journal -- a joint venture of New America's Economic Growth Program, Next Social Contract Initiative, and Smart Globalization Initiative.  It's an invaluable source for the best and most timely thinking on surmounting the global financial crisis, adopting a strategy for long-term economic growth  and a rebalanced world economy, investing in the nation's infrastructure and restoring the link between productivity growth and wages.

Thank you again for your interest in last week's symposium and these issues more broadly. We look forward to continuing the conversation.

Media interested in follow-up interviews with New America staff and fellows should contact Kate Brown at 202-596-3365 or brown@newamerica.net.

Learn More About: Bernard L. Schwartz, Steve Coll, Steven Clemons
Related Programs: Economic Growth Program, Smart Globalization Initiative
Topics: Economic Growth, Next Social Contract