The most common metaphor for debates about growth and income distribution is that of the economy as a pie. Some focus their policy efforts on economic growth and efficiency: making the pie bigger. Others emphasize policies that increase equity and redistribute income: how shall we cut up the pie and distribute its slices, whatever its total size? We learn early in introductory economics that there is a big tradeoff between these two goals of equality and efficiency.
The United States has a long history of economic growth, a history that shows free-market capitalism to be the engine of social mobility—a highway to the American Dream.
The Bush Institute’s Economic Growth initiative researches and develops free-market ideas that can grow the economy and raise living standards in the United States.
As part of this initiative, the Bush Institute holds debates, hosts conferences, and produces new scholarship in the form of books, papers, and other published material that outlines needed reforms.
One of the first undertakings of the economic growth initiative is the 4% Growth Project. The project sets an ambitious target of real, sustained GDP growth of four percent annually, or about one percentage point higher than the average rate of growth since the end of World War II. A four percent growth rate will create good jobs for Americans, reduce the burden of government debt, and greatly increase prosperity.