WINTER 1998 TABLE OF CONTENTS

INTRODUCTION
American democracy rests on a balance between what our country can do for us and what we can do for our country.

The Challenge

MEETING THE CHALLENGE OF THE NEW ECONOMY
by Michael J. Mandel
This era can be one of opportunity and prosperity -- if we are successful in meeting the tests before us.

The Solution

STABILIZING THE GLOBAL ECONOMY
by Robert Hormats and Laura D'Andrea Tyson
By working to develop best practices, common understandings, and contingency policies, individual countries can cooperate to build a solid institutional and policy foundation for greater stability in global financial markets. As the undisputed global economic and political power, the United States has both the responsibility and the self-interest to lead this process. Plus:

• TRADE IS CHANGING IN THE NEW ECONOMY by Edith Wilson

INNOVATION: THE NEW PUMP OF GROWTH
by Paul Romer
If we can more beyond narrow political debates about science and technology policy -- and identify the features that distinguish successful initiatives from failures -- we should be able to agree on a new generation of proposals that can lift the nation to new heights in the next century. Plus:

• A 21ST CENTURY GROWTH AGENDA by Andrei Cherny

EXPANDING THE WINNERS' CIRCLE: A GUIDE FOR INCREASING UPWARD MOBILITY
by Robert E. Litan
Economic policy, it is often said, is about expanding the size of the pie and ensuring that its slices are not handed out too unevenly.

Penn's Poll

CHOOSING THE NEW ECONOMY
by Mark J. Penn

What Works

BACK TO THE FUTURE WITH NEW LABOR
by Fred Siegel and Joel Kotkin
The long-term survival of the American labor movement rests on its ability to organize in the New Economy.

TOWARDS A MORE DEMOCRATIC CAPITALISM
by Jeff Gates
If America is serious about expanding the winners' circle, we need a capitalism that creates more capitalists

MAKING THE NEW ECONOMY WORK
by Claude Fontheim
As America becomes more integrated with the global economy and national boundaries diminish as barriers to trade and capital, we need new tools to enable working Americans to be upwardly mobile.