George W. Bush Institute Convenes Top Economic Minds to Develop Blueprint for Accelerated Economic Growth

Nobel Laureates, leading economists, CEOs and policy experts convene in Dallas, Texas, for conference introducing the 4% Project

DALLAS--(BUSINESS WIRE)--Four percent annual GDP growth in the United States would simultaneously improve job creation, boost America’s standard of living, reduce the national debt and help shore up health care and retirement programs. Today, the George W. Bush Institute kicked off a conference to launch the “4% Project,” which will establish a blueprint for public policies and private business practices that would nearly double the expected rate of growth in the United States.

“During the next three years, in the 4% Project, we will be engaging in two activities: first, research and analysis to find the best ways to focus on achieving practical, measurable results and, second, dissemination and advocacy of those ideas and methods.”

The conference brings together leading economists, business people, and past and current policymakers. Among the participants are four winners of the Nobel Prize in economics.

In his opening keynote remarks, President George W. Bush introduced the 4% Project, noting that you “have to be somewhat optimistic to aim for an aspirational target of four percent. We at the Bush Center aim high because we believe in the greatness of America. We believe America is the most innovative, productive, entrepreneurial country in the history of the world.”

The George W. Bush Institute is the innovation policy arm of the George W. Bush Presidential Center. The Bush Institute’s mission in economic growth is to spur research and develop initiatives that will help accelerate America’s economy.

“At the Bush Institute, we seek practical, measurable solutions to problems,” said James K. Glassman, the executive director of the Bush Institute. “During the next three years, in the 4% Project, we will be engaging in two activities: first, research and analysis to find the best ways to focus on achieving practical, measurable results and, second, dissemination and advocacy of those ideas and methods.”

Following the opening keynote by President Bush, Richard W. Fisher, President and CEO, Federal Reserve Bank of Dallas, moderated “How Does An Economy Grow?” The discussion featured the following panelists: Allan H. Meltzer, The Allan H. Meltzer University Professor of Political Economy, Carnegie Mellon Tepper School of Business; Jeffrey Miron, Senior Lecturer and Director of Undergraduate Studies, Department of Economics, Harvard University; Susan C. Schwab, Professor of Public Policy, University of Maryland and Amity Shlaes, Syndicated Columnist, Bloomberg; Senior Fellow, the Council on Foreign Relations.

Concurrent breakout session topics included: “The Fed, Taxes and Spending,” “Capital: Human and Otherwise,” “Encouraging Entrepreneurship” and “The Politics and Policy of Growth.”

The closing keynote speaker for the day was former president and CEO of eBay, Inc., Meg Whitman.

The second day of the two-day conference will begin with “The Nobel Economists’ Roundtable,” moderated by Edward P. Lazear, Professor of Human Resources Management and Economics, and include: Robert E. Lucas, Jr., 1995 Nobel Laureate in Economics; Edward C. Prescott, 2004 Nobel Laureate in Economics and Myron S. Scholes, 1997 Nobel Laureate in Economics. A fourth Nobel laureate, Gary S. Becker, who won in 1992, will speak at a dinner on the first day.

A second panel discussion, “The Business Leaders’ Roundtable” will be moderated by Robert K. Steel, Deputy Mayor for Economic Development, City of New York, and will feature: Greg Brenneman, Chairman, CCMP Capital; Stephen Friedman, retired Chairman, The Goldman Sachs Group; Chairman, Stone Point Capital LLC; Gary Johnson, Honorary Chairman, Our America Initiative and James W. Owens, Senior Advisor, Kohlberg Kravis Roberts & Co.; Chairman and CEO Emeritus, Caterpillar, Inc.

Closing remarks on Tuesday will feature Arthur B. Laffer, Co-Founder & Chairman, Laffer Investments Inc.

About the George W. Bush Institute:

The George W. Bush Institute seeks to improve the human condition through human freedom, educational reform, global health, and economic growth. In all its programming, the Institute integrates initiatives that empower women and support social enterprise as proven catalysts for change. The Bush Institute is the innovation policy arm of the George W. Bush Presidential Center, which includes the Presidential library, located on the campus of SMU in Dallas. For more information, please visit www.bushcenter.com.

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