Economic Dignity

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When Gene Sperling coordinated economic policy in the Obama White House, he was surprised by concerns that focusing on health care distracted from economic issues. He questioned how the fear of financial ruin due to illness or job loss was not considered economic. This highlighted a deeper issue in America's economic debate: a lack of clarity on the ultimate goals of economic policy. Sperling observed that discussions often conflated means with ends, measuring success through GDP rather than the well-being of individuals. He noted that traditional frameworks failed to address exploitation, insecurity, and disillusionment. In a time when capitalism's ability to combat inequality and poverty is under scrutiny, Sperling emphasizes the need to reflect on our goals. His concept of economic dignity rests on three pillars: the ability to care for family without economic deprivation, the right to pursue potential and purpose, and the right to participate in the economy with respect. These pillars embody the noble values of the American project. Sperling provides pathways for policymakers and citizens to navigate economic challenges, asserting that clarity on our destination is essential. His guiding principle is succinctly defined as "economic dignity."