Share Event

Restoring American Economic Dynamism: New Solutions for America’s Productivity Slowdown

Register to Attend

Full-Day Conference Presented in Partnership with the CFA Institute Research Foundation, the Museum of American Finance and S&P Global

Tuesday, November 28, 2017 | 09:30 AM to 06:00 PM

US productivity growth is at historic lows by most measures. The number of new US companies opening barely outpaces the number of companies closing. Inequality is increasing, as is the mortality of those with only a high school education. The United States risks becoming the new “sick man” of the world, analogous to the rotating position of the Ottoman Empire, Britain, France, Germany and Italy as the sick man of Europe.

“Restoring American Economic Dynamism: New Solutions for America’s Productivity Slowdown” will be a day-long conference offering fresh ideas of how to bring back American prosperity and growth. The conference will address the true economic challenges facing America: Is it a measurement problem, with statistics failing to capture improvement in living standards? Or is it an inequality problem, where the United States actually has two economies, one providing high-wage jobs in information technology and finance, and the other centered on low wage service jobs and dying old industries where most of the supply chain has fled to other countries?

Most analyses of US economic decline are either fatalistic, or wholly lacking in solutions other than generic ones such as “infrastructure” and “education.” In contrast, this conference will expand the policy choice set to include new ideas about how to restore American economic vitality. These include the possibility of new labor market institutions, such as apprenticeship programs or ways of sharing applied research and technology. Ultimately, the US needs an expanded innovation system focused on production. Such novel ideas could result in US workers and firms better participating in manufacturing, innovation and entrepreneurship, leading to more dynamic and inclusive growth.

Register to Attend

Location

MUSEUM OF AMERICAN FINANCE
48 Wall Street | New York, NY 10005
Email: events@moaf.org

Fee

Members $40 | Nonmembers $100

Agenda

9:00: Doors open; continental breakfast served

9:30: Welcome and Opening Remarks
David Cowen, MoAF President
David Adler, Conference Organizer
Laurence Siegel, Conference Co-Organizer
Richard Sylla, MoAF Chairman

9:45: Opening Keynote: “The Audacity of Pessimism: Challenges for the World Economy”
Lord Mervyn King, Governor of the Bank of England (2003-2013)

10:30: Break

10:40: Panel: Does the US have a Productivity Problem or a Productivity Measurement Problem?
Productivity Was Already Slowing Before the Financial Crisis
Chad Syverson, J. Baum Harris Professor of Economics, The University of Chicago

Is America Still a Sartup Nation?
Dane Stangler, Director of Policy Innovation, The Progressive Policy Institute (PPI)

Two Economies: the Decline of the American Worker and the Rise of Superstars
Anton Korinek, Johns Hopkins University; former visiting scholar, the World Bank, the IMF and the BIS

Chair: Laurence Siegel (conference co-organizer), Director of Research, CFA Institute Research Foundation

11:45: Break

11:55: Mid-morning Keynote: “Productivity and Growth in the Digital Age”
Jaana Remes, Partner, McKinsey Global Institute

12:30: Buffet lunch served

1:00: Lunchtime Keynote: “Finding Capital in the Stock Market”
David Blitzer, Managing Director and Chairman of the Index Committee, S&P Dow Jones Indices

1:45: “Building a Robust Apprenticeship System in the United States”
Robert Lerman, Fellow, Urban Institute

2:15: Why is Business Investment So Low in the United States?
Thomas Philippon, New York University, winner of the 2013 Bernácer Prize for Best European Economist under 40

2:45: Break

3:00: Solutions Panel
Reversing the Decline in Manufacturing (and why automation isn’t the problem)
Susan Houseman, Vice President and Director of Research, Upjohn Institute for Employment Research

Building Innovative and Fair Supply Chains
Susan Helper, Case Western, Former Chief Economist at the US Department of Commerce and a member of the White House Staff

Innovation: Strategies for Growth in the United States
Dan Breznitz, Professor and Munk Chair of Innovation Studies, University of Toronto; editor of “Third Globalization: Can Wealthy Nations Stay Rich?”

Chair: David Adler (conference organizer), Author of The New Economics of Liquidity and Financial Frictions (CFA Institute Research Foundation); Senior Advisor, XA Investments

4:15: Group Panel: Now What?

4:45: Closing Keynote
Edmund Phelps, Nobel Laureate, Economics; Director of the Center on Capitalism and Society, Columbia University

5:05: Cocktail reception

6:00: Event ends

Register to Attend

DISCLAIMER OF ENDORSEMENT

References herein to any specific sponsor or service do not necessarily constitute or imply the endorsement, recommendation or favoring by CFA Society New York. CFA Society New York strives to be a community for diverse opinions and differing perspectives, and the views and opinions expressed by speakers, presenters and/or organizers at events do not necessarily state or reflect those of CFA Society New York.

CFA Society New York expects all attendees to comply with CFA Society New York’s Code of Conduct while attending CFA Society New York events or meetings. CFA Society New York expressly reserves the right, in its sole discretion, to grant or deny access to any individual, or to expel any individual from any CFA Society New York event or meeting.

CFA Society New York (“CFANY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFANY seeks to present accurate and reliable information, CFANY does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFANY has no duty to update and maintain the information, reports, or statements made during events. CFA Society New York specifically disclaims any such express or implied warranties. CFA Society New York and its affiliates, agents, and licensors will not be liable to you or anyone else for any loss or injury, caused in whole or in part by their negligence of contingencies beyond their control in procuring, compiling, reporting interpreting or delivering the information. In no event will CFA Society New York and its affiliates, agents, and licensors be liable to you or anyone else for any damages, including but not limited to consequential, special, indirect and incidental damages, even if advised of the possibility of such damages.

The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you. None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund. CFANY is not responsible for any investment decision made by you.

You should not make any financial, investment, trading or other decision based upon any of the information presented at CFANY without undertaking your own independent due diligence and consulting with a qualified and registered securities professional. You understand that your use of any of the information presented at CFANY is at your own risk.

There is a substantial amount of risk in trading securities, and the possibility exists that you can lose all, most or a portion of your capital. CFANY does not, cannot, and will not assess or guarantee the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The securities mentioned in any CFANY presentation may not be suitable for investors depending on their specific investment objectives and financial condition.

Sponsorship Overview

For over 80 years, CFA Society New York—formerly known as New York Society of Security Analysts (NYSSA)—has been a leading forum for the exchange of information among investment professionals. Our mission is to raise standards of practice in the industry for the ultimate benefit of society. Towards that goal, CFA Society New York content is curated by volunteer practitioner interest groups that strive to shape the future of the industry. A bold line exists between the financial support by organizations to maintain the quality of our programming and the selection of speakers who contribute to dialogue in our community. To that end, a ceaseless commitment to transparency is something we consider foundational to our cause.

Please be advised of the following information related to Society sponsorship and support:

Through financial support and other means of in-kind support, each event sponsor, event partner, event co-host and organizational partner of CFA Society New York plays a valuable role in the furtherance of the range of forward-thinking initiatives that underpin the Society’s values, and toward our mission to deliver Society content and programming of the highest quality and standard.

CFA Society New York thanks all of its sponsors, event-related affiliates and organizational partners for helping us continue to shape the conversation of the investment community.

Legal Notice and Disclaimer

CFA Society New York (including its employees and agents) assumes no responsibility for presenters or consequences resulting from the use of information or content of such information presented, including (but not limited to) errors or omissions, the accuracy or reasonableness of factual or scientific assumptions, studies or conclusions, the defamatory nature of statements, ownership of copyright or other intellectual property rights, and the violation of property, privacy, or personal rights of others. The CFA Society New York is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on such information. No guarantees or warranties, including (but not limited to) any express or implied warranties of merchantability or fitness for a particular use or purpose, are made by CFA Society New York with respect to such information. CFA Society New York does not endorse, approve, or certify such information, nor does it guarantee the accuracy, completeness, efficacy, timeliness, or correct sequencing of such information. All presentations represent the opinions of the presenters and do not represent the position or the opinion of CFA Society New York or its members. Reference by the presenters to any specific commercial product, process or service by trade name, trademark, service mark, manufacturer, and corporation or otherwise does not constitute or imply endorsement, recommendation, or favoring by CFA Society New York.

CFA Society New York strives to be a community for diverse opinions and differing perspectives, and the views and opinions expressed by speakers, presenters and/or organizers at events do not necessarily state or reflect those of CFA Society New York.

CFA Society New York expects all attendees to comply with CFA Society New York’s Code of Conduct while attending CFA Society New York events or meetings. CFA Society New York expressly reserves the right, in its sole discretion, to grant or deny access to any individual, or to expel any individual from any CFA Society New York event or meeting.

Inclement weather

CFANY reserves the right to cancel or reschedule all in-person events within 48 hours when inclement weather has been forecasted and travel is restricted by city officials.  The program may also be produced solely via livestream in such circumstances.  Please note the cancellation policy regarding refunds and substitutions.

Refunds, Cancellations, and Substitutions

  • 72 HOURS ADVANCED NOTICE OR MORE:
    • Full refund issued
  • WITHIN 48 HOURS OR AFTER EVENT HAS STARTED:
    • No refund

All requests for cancellation or refunds must be sent to cfanyevents@cfany.org.

More

CFA Society New York, Inc. (“CFA NY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFA NY seeks to present accurate and reliable information, CFA Society New York does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFA Society New York has no duty to update and maintain the information, reports, or statements made during events.

The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you.

None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund.