Authors
Amanda Kaitlin Belue
In This Issue
US Prosperity on the Global Stage
What We're Reading
Building the Dream
US Prosperity on the Global Stage
Though the 2022 American Dream Prosperity Index (ADPI) launched last fall, the analysis and conversation around US prosperity continue. In a recent blog post, our partners at Legatum have taken a broad look at US prosperity on a global scale.
Both at home and abroad, 2022 was turbulent. In the United States, Americans endured the omicron variant, slogged through persisting high inflation, and felt the financial squeeze of rising energy prices. Abroad, the Russian invasion of Ukraine shook the world, resulting in grain shortages and sanctions against Russian entities. As a result, global prosperity plateaued for the third straight year, as identified by the 2023 Legatum Prosperity Index.
The index reports an overall ranking of 19th (out of 167 nations) in 2023, but it highlights considerable variation across different dimensions of prosperity. While the US continues to dominate as an economic and entrepreneurial power, these strengths are marred by worsening political accountability, acts of domestic terrorism, and other elements. The ADPI is a key tool for understanding these trends and uncovering how we can continue to build prosperity regardless of zip code.
What We’re Reading
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Rekindling Productivity: Focusing on long-term productivity growth could add $10 trillion to the US GDP, according to a new report from McKinsey Global Institute, productivity has grown at a lackluster 1.4 percent per year. To address this deficit, sustained change will have to occur in both the public and private sector to build skills for American workers and forge a new talent pipeline.
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Enduring Gap: A Pew Research Center analysis has found that the gender pay gap has not shifted in the last two decades. In 2022, women still earned around 82 percent of what men earn, not far from the 80 percent reported in 2002. This lack of change points towards other factors that still impact a woman’s earning potential like parenthood, occupational decisions, and ethnic discrimination.
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Housing Matters: A new blog from the Urban Institute explores how localities can adapt their historic preservation policies to advance racial equity and create favorable community outcomes. By engaging with residents of color during the development and implementation of local equity frameworks, neighborhoods can work to prevent displacements and preserve critical aspects of community and culture.
Building the Dream
This month has seen a surge in activity as our construction teams focus on enclosing the atrium and many small but mighty renovation details. Prototypes for the new chandeliers and sconces within the renovated bank hall lobby have been reviewed, while many decorative finishes in the historic lobby are being modified and patched. Due to a fortunate turn in the weather, our team was able to set all the horizontal glass above our atrium, and you can now see how this one-of-a-kind space will connect our buildings at 730 and 734 15th Street.