A new compact among business, government & American workers

Workers have been underserved by much of America’s economic growth for far too long. And never has this been more apparent than it is now. The Covid-19 pandemic has exposed the underlying fragility and inequities of our economic system, with burdens disproportionately hitting the lowest-paid and most vulnerable.

These systemic problems cannot be solved by any one actor alone. Government must make new rules for a fairer and more equitable economic system. Businesses must develop policies that offer everyone meaningful access to economic security and upward mobility. American workers must have greater voice and be rewarded for the value they create.

Developed by a diverse Commission of the nation’s most respected CEOs, academic, civic, and political leaders, the Framework for Inclusive Capitalism identifies a series of bipartisan principles and recommendations for better aligning government, business and civil society in putting American workers at the core of an inclusive recovery.  

Only by improving the lives of workers and having them share fairly in economic gains will our country experience the sustainable growth necessary to restore its promise of greater opportunity and upward mobility for all. 

Why this framework is important

Over the past 40-years, America’s policies and practices have led to a decline in economic opportunity and positive outcomes for many workers. Meanwhile historic racial and other social  injustices have disproportionately limited the ability of many to share in the American dream. 

This Commission therefore came together to identify the foundational elements for building a more Inclusive Capitalism that ensures the promise of economic security and prosperity is available to all.

By 2019, the portion of American families without sufficient cash for a $400 emergency was
0 %
Over 40-years, worker productivity increased by about 70%, yet average hourly wages rose by only
0 %
The share of Americans earning more than their parents has dropped from 90% in the 1960s to only
0 %

The vast inequalities in our economic system hurt not only the lives and families of underrepresented populations, but also the wider economy and recovery that they power. Studies indicate that eliminating inequalities across race, ethnicity and gender through improved pay equity, reduced workforce discrimination and levelled educational and training achievements would lead to more productive workforces, higher earnings and a stronger consumer base.

Achieving racial pay equity would add to the economy annually
$ 0
Trillion
Achieving gender pay equity would add to the economy annually
$ 0
Billion
Eliminating discrimination in hiring, health and education would add
$ 0
Trillion

Adoption of this Framework and its principle, policy and practice recommendations will help create an economy that is not only more fair and just, but that also produces more sustainable growth and social equity over the long term. America’s recovery from 40 years of declining worker opportunity and gainsharing, history of systemic racism and inequality, as well as the Covid-19 pandemic require nothing less.

THE ROLE OF DIFFERENT SECTORS

Government

Government will play a crucial role in a more inclusive and sustainable recovery.

Government

  • Modernizing and adapting benefit systems
  • Raising the minimum wage
  • Funding R&D and infrastructure development
  • Mandating workforce development reporting

Private Sector

Government will play a crucial role in a more inclusive and sustainable recovery.

Private Sector

  • Bringing in gig workers
  • Combatting discrimination and improving pay equity
  • Diversifying workforces at all levels
  • Giving workers a greater voice in the corporation and fairer share in productivity gains

Civic Sector

Government will play a crucial role in a more inclusive and sustainable recovery.

Civic Sector

  • Integrating training and education
  • Recognizing and rewarding inclusive business practices
  • Fostering a race to the top among employers

The framework's key pillars

The Framework for Inclusive Capitalism recommends 21 policies based on 12 principles under three key pillars
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The Commissioners

The Commission responsible for developing the Framework for Inclusive Capitalism comprises a diverse range of public and business figures, including Democrats and Republicans, CEOs, civic leaders, economists and scholars.
Zoë Baird

Zoë Baird

Markle Foundation CEO and President
"As jobs change in the digital economy, we need to make training accessible and affordable for workers, including labor-management training, so we grow opportunities throughout our workforce."
Steve Bartlett

Steve Bartlett

former U.S. Congressman and Dallas Mayor, Chair of RespectAbility
David Berger

David J. Berger

Wilson Sonsini Goodrich and Rosati Partner
“The time has come, as President Biden has promised, to ‘reward work and not wealth,’ and the proposals of this commission prove that, while the challenges are all around us, consensus solutions are within reach.”
Xav-Briggs

Xavier de Souza Briggs, PhD

Brookings Institution Nonresident Senior Fellow
Walter Bumphus

Walter G. Bumphus, PhD

American Association of Community Colleges President and CEO
Ursula Burns PIC

Ursula Burns

former Xerox Chair and CEO, former VEON Ltd. Chair and CEO, and Teneo Senior Adviser
Antonio Flores

Antonio Flores, PhD

Hispanic Association of Colleges and Universities President and CEO
Roger Ferguson HIRES

Roger W. Ferguson, PhD

TIAA CEO and former Vice Chairman of the Federal Reserve Board of Governors
"We have to learn a lasting lesson from recent crises: A more inclusive and equitable capitalism is better for business and for Americans."
LdeR Headshot FINAL

Lynn Forester de Rothschild

Inclusive Capital Partners Managing Partner and Coalition for Inclusive Capitalism Founder
“The vast inequalities in our economic system hurt not only American workers and their families, but also undermine the strength of the economy and the potential for our recovery. As long as the market continues to be decoupled from the needs of society, our nation will fail to reach its full potential.”
Glenn Hubbard

Glenn Hubbard, PhD

Columbia Business School Dean Emeritus and former Council of Economic Advisers Chair
“As we rebuild the American economy, we must reevaluate how our system prepares those who power it. Having workers gain the skills to benefit from their labor and broadly share in America’s prosperity is critical to our nation’s sustained recovery and economic growth.”
Andrew McAfee

Andrew McAfee, PhD

MIT Sloan School of Management Principal Research Scientist
Ted Mitchell

Ted Mitchell, PhD

American Council on Education President and former Under Secretary of Education
Janet Murguía

Janet Murguía

UnidosUS President and CEO
“Addressing the inequities in our economic system requires solutions that are both linguistically and culturally relevant and inclusive of workers, including Latino and immigrant workers, who are an essential part of the American workforce.”
Dr-Eduardo-Padron_129re

Eduardo Padrón, PhD

Miami Dade College President Emeritus
"American workers are the back bone of the Great American Experiment. As we continue to evolve into the innovation economy, it is an imperative that workers fully share in the fruits of progress."
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David M. Rolf

SEIU 775 Founder and President Emeritus
“Over the last five decades, we’ve seen our national income distributed increasingly to the top 1% of income earners, and less to hard working Americans. It’s time we make a different set of policy choices, because inclusion, not extraction, is the key to a strong economy and a strong democracy.”
Dr. Rajiv Shah

Dr. Rajiv J. Shah

The Rockefeller Foundation President and former USAID Administrator
Leo Strine

Leo E. Strine, Jr.

former Chancellor and Chief Justice of Delaware
"For far too long, our corporate governance system and economic policies have ignored the interests of the people most important for capitalism’s success — workers."
Tyson, Laura

Laura D. Tyson, PhD

Berkeley Haas Distinguished Professor and former Council of Economic Advisers Chair
“As President Biden focuses on the urgent challenges of containing the COVID-19 pandemic, supporting the faltering and uneven recovery, and giving emergency relief to households, the Framework for Inclusive Capitalism provides recommendations for how to ‘build back better’.”
Darren Walker

Darren Walker

Ford Foundation President
Ashbel Williams

Ashbel C. Williams Jr.

Council of Institutional Investors Chair
Tom Williams Headshot January 2021

Thomas L. Williams

North American Properties President and CEO

Affiliations are for identification purposes only

Our Supporters

Ajay Banga

Mastercard

Edward Breen

DuPont

Sharan Burrow

International Trade Union Confederation

Brunello Cucinelli

Brunello Cucinelli S.p.A.

Carmine Di Sibio

EY

Kenneth Frazier

Merck

Fabrizio Freda

Estée Lauder Companies

Marcie Frost

CalPERS

Alex Gorsky

Johnson & Johnson

Angel Gurria

Secretary General of the OECD

Al Kelly

Visa

William Lauder

Estée Lauder Companies

Bernard Looney

BP

Fiona Ma

California State Treasurer

Hiro Mizuno

Principles for Responsible Investment

Deanna Mulligan

Guardian Life

Ronald P. O'Hanley

State Street Corporation

Rajiv Shah

The Rockefeller Foundation

Tidjane Thiam

Kering Group

Darren Walker

Ford Foundation

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