Progressive Economics Network 2023 (1)

In light of the sharp rise of political polarisation, geopolitical instability and economic insecurity, there is a need for progressives on both sides of the Atlantic to deepen their economic leadership. Overlapping social, economic and environmental challenges make decisive policy action even more important. For instance, for lower-income households in many countries the recovery from the pandemic never happened, as inflation outpaced their wage increases. As a result, faith in government continues to be low. At the same time, alleviating the energy and climate crisis will require a tripling of clean investments from public and private sectors by 2030 the delivery of which is still in doubt.

With progressives in power in key countries, this moment provides an opportunity for them to come together and outline a vision for tackling these big socio-economic challenges. A joint progressive transatlantic vision for economic policy up to 2030 could serve as a North Star at a time of huge geopolitical uncertainty. It could prove that governments in liberal democracies are able to generate prosperity while reducing inequalities, empowering communities and delivering growth within planetary boundaries. Coming together and implementing such a trans-national vision for equitable prosperity could allow progressives to champion democratic values, social justice and human rights at home and abroad.

During the IMF Spring Meetings, FEPS, Das Progressive Zentrum (DPZ) and Friedrich-Ebert-Stiftung (FES) wanted to start an important part of this discussion, with an invite-only exchange with US economic experts and lead advisors. This gathering was part of Progressive Economics Network which aims to bring together some of the leading economic advisors, analysts, policy-makers and scholars from across Europe, the US and Canada. The goal of the series is to offer a space to discuss progressive macro-economic and industrial policy approaches in a confidential environment.

The meetings took place in Washington DC on 12 April 2023:

• At 09:45 – Meeting at the Centre for American Progress on the new US trade Strategy. Report presentation and exchange of views.
• At 12:45 – Meeting on ‘Industrial policy beyond the Inflation Reduction Act‘ with inputs by Heather Boushey, Member of President Biden’s Council of Economic Advisors and co-founder of the Washington Center for Equitable Growth.

Among the confirmed participants:

• Christian Büchter, Head of Department Climate Policy, German Chancellery
• Julia Lemke, Member of Cabinet of EU Commissioner Paolo Gentiloni, European Commission
• Lina Gálvez Muñoz, Member of the European Parliament, Vice-Chair of the ITRE Committee and member of the Delegation for relations with the US
• Armand Zorn, MP and Member of the Financial Committee, German Bundestag
• Metin Hakverdi, MP, Member of the Budget Committee, German Bundestag
• Valérie Rabault, MP, Vice-president to the French National Assembly
• Federico Steinberg, Special Advisor to Vice President Josep Borrell, High Representative of the EU
• Giancarlo Altieri, Economic Advisor to the Chair of the Committee on Economic and Monetary Affairs, European Parliament
• Naïm Cordemans, Economic Advisor of Thomas Dermine, State Secretary for Science Policy, Recovery Program and Strategic Investments, Ministry of the Economy and Employment, Belgium
• Trevor Higgins, Senior Vice-President, Energy and Environment, Center for American Progress
• Trevor Sutton, Senior Fellow at Center for American Progress and co-author of the Report “A New Horizon in U.S. Trade”
• Mike Williams, Senior Fellow at Center for American Progress and co-author of the Report “A New Horizon in U.S. Trade”
• Anne Christianson, Director of International Climate Policy, Center for American Progress
• Ana Luisa Fajer, Deputy Chief of Mission, Embassy of Mexico in the United States
• Michael Werz, Senior Fellow, Center for American Progress & Member of Scientific Advisory Council, Das Progressive Zentrum
• Emily Gee, Senior Vice-President, Inclusive Growth, Center for American Progress
• Carsten Jung, Senior Economist, IPPR, UK & Senior Economic Advisor, Das Progressive Zentrum
• Heather Boushey, Member of President Biden’s Council of Economic Advisors and co-founder of the Washington Center for Equitable Growth.
• Araceli Fernandez Pales, International Energy Agency, Lead Author of IEA flagship ‘Energy Technology Perspectives’ report
• José Domingo Roselló Gómez-Lobo, Head of Unit of Macroeconomic and Financial Policies, Cabinet Office of the Presidency of the Government of Spain
• David Rinaldi, Director of studies and policy, FEPS and Lecturer on European Economic Governance, Université Libre de Bruxelles

For more information regarding the Progressive Economics Network and its activities, please do not hesitate to contact Anna Kolesnichenko, FEPS Policy Analyst on Economy (anna.kolesnichenko@feps-europe.eu) or Vanessa Zwisele, FEPS Project Officer (vanessa.zwisele@feps-europe.eu).