“I really think that everything from this last election to Brexit to the unrest around the country and the world shows that the old economic paradigm of trickle-down economics has left families broke and in debt and in need of a new paradigm,” says Natalie Foster, president of the Economic Security Project. The answer, as she lays out in her new book The Guarantee: Inside the Fight for America’s Next Economy, is to provide individuals and families with the same sense of security that American businesses enjoy through a web of laws and institutions that provide the stability they need to be innovative and thrive.
As Foster tells Futuro Health CEO Van Ton-Quinlivan, she sees the new paradigm — which would create an economic floor of guaranteed income, housing, healthcare, childcare and education — as an evolution of American capitalism. “It’s an evolution that’s needed if we are truly to tap into the genius that exists all over this country but is unevenly tapped now because opportunity in America is uneven.” Foster says pilot programs in various cities and states have proven the wisdom of the approach, and she’s expects those local innovations to continue during what will likely be a period of national inaction given the outcome of the November elections. Don’t miss this provocative conversation that includes discussion of extending income guarantees to those pursuing jobs in specific sectors with severe workforce shortages, and what federal policy during the pandemic taught us about the power of economic security.