Early this year, a team of distinguished economists, current and former government ministers, academics, labor leaders, and opinion makers gathered at the Mayflower Hotel in Washington, D.C., to announce an ambitious plan to create “inclusive prosperity” on a transnational scale. The experts—led by former U.S. Secretary of the Treasury Lawrence H. Summers and Britain’s then-Shadow Chancellor of the Exchequer Ed Balls—spoke about new investments in infrastructure, raising wages, and more progressive taxation. They also highlighted a time-tested approach that is too often omitted from mainstream economic debate: maximizing the earnings power of women.
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