Where and how can the strengths of American capitalism be reinforced and broadened to fully benefit the growth and prosperity of all in the United States, and others beyond it, to fully capture the promise and evolving opportunities and possibilities of the 21st century?
What types and mix of market-based and non-market-based interventions can shift capitalism to provide opportunities and improved outcomes to all its participants while preserving the innovation and competition that enable growth and greater prosperity?
What aspects of market design and redesign are needed in order to create well-functioning and inclusive markets fit for a 21st-century economy and its participants?As technology, the growing importance of capital and intangibles, and globalization all affect labor markets, how can capitalism evolve to ensure that people—the majority of whom participate in the economy via their labor—prosper, through access to quality jobs, income, and dignity? As COVID-19 has further highlighted vulnerabilities for many individuals, what safety nets and transition supports are required going forward, and how can these best be provided?
How can capitalism ensure that all people and places in the United States have the opportunity to participate fully in the economy, especially those most adversely affected to date and at risk of being left behind in the future?
What investments are needed and how should these be made? How should the concentration of economic returns and the emergence of superstar firms, sectors, and cities be addressed? How can the benefits of these superstars—for example, theability to make larger, more uncertain long-term investments in breakthrough innovation and the benefits to consumers from scale and network effects—be harnessed for wider benefit, while the downsides including impacts on innovation, competition, consumers, and regional economies are mitigated?
To what extent is capitalism equipped to address a challenge like climate change with the required speed and scale? Where can market-based interventions be applied, and what role can governments and other institutions play to create incentives and enable coordination in order to address climate change? What actions will ensure that American capitalism remains competitive and resilient in the global economy? What can be learned from other systems of capitalism, and what aspects that make the American system unique should be leveraged for continued growth and prosperity? What, if any, is the role of industrial policy?
How can capitalism ensure sufficient investment in public goods, such as education and other human capital investments, in public infrastructure including health infrastructure, or in fundamental R&D? How can these investments be made equitably across various socioeconomic and demographic groups and parts of the country? How should these investments be financed?
