Testimony On “State of the American Dream: Economy Policy and the Future of the Middle Class”
Atif Mian, professor of economics and public affairs and co-director of the Julis Rabinowitz Center for Public Policy and Finance at the Woodrow Wilson School testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy on June 6.
The focus of the hearing, “State of the American Dream: Economic Policy and the Future of the Middle Class,” was chaired by Senator Jeff Merkley, (D-OR), MPA ’82.
The subcommittee hearing addressed the state of the middle class and the “American dream;” the challenges for the middle class today, including employment, wages, and household wealth/debt; how the state of the middle class today is affecting America’s long-term prospects for economic growth; and what economic policies and other actions could boost the middle class as an engine of growth for the economy and ensure it can enjoy the American dream.
Watch the entire subcommittee hearing.
Mian's recent research work centers on understanding the origins of the global financial crisis, the political economy of government intervention in financial markets, and the link between asset prices, household borrowing, and consumption. His work has appeared in top economics and finance journals, including American Economic Review, Quarterly Journal of Economics, Journal of Finance, Review of Financial Studies and Journal of Financial Economics. Mian’s work has also been profiled by leading media outlets such as The Economist and The Wall Street Journal. Mian holds a bachelor’s degree in mathematics and a Ph.D. in economics from Massachusetts Institute of Technology. Prior to joining Princeton in 2012 he taught at the University of Chicago Booth School of Business and the University of California, Berkeley.
Mian was named co-director of the Woodrow Wilson School's Julis-Rabinowitz Center for Public Policy and Finance in September 2012. Established in 2011, the Julis-Rabinowitz Center for Public Policy and Finance (JRC) is a research and teaching center that focuses on using in-depth knowledge of financial markets to improve the design and implementation of public policies. As part of the Woodrow Wilson School, JRC is at the forefront of the emerging field of public policy and finance. The Center was made possible by a generous gift from the Julis family.