FEDERALhearing transcript

Joint Economic Committee Hearing on Expanding Opportunity

Original title: Expanding Opportunity By Strengthening Families, Communities, and Civil Society

January 1, 2019

economic policy social capital civil society economic opportunity community development

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The Frame

What this does

The hearing establishes the legislative framework and expert testimony used by the to evaluate how non-financial social structures influence national economic policy and individual upward mobility.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Federal Policymakers

Committee members use the testimony to inform future legislative priorities regarding economic and social policy.

Academic and Policy Researchers

Experts provided formal testimony that becomes part of the official congressional record for policy analysis.

What changed

Last recorded activity January 1, 2019.

What's next

Next step not available in the current record.

Summary

This document is a transcript of a 2019 hearing focused on how —relationships within families, communities, and local organizations—contributes to economic opportunity. Experts and lawmakers discussed moving beyond purely financial metrics to understand how civil society institutions support individual success.

Key Facts

The hearing took place on April 30, 2019, in the Hart Senate Office Building.
The committee focused on the role of 'social capital'—defined as wealth produced through families, churches, and community organizations—in expanding economic opportunity.
Chairman Mike Lee argued that government policy should focus on removing barriers to both economic wealth and social capital.
Four expert witnesses provided testimony: Dr. Nathaniel Hendren, Dr. Ryan Streeter, Mr. Jose A. Quinonez, and Dr. Patrick Sharkey.
The record includes prepared statements from all witnesses and responses to follow-up questions from Senators Hassan and Representative Maloney.
The committee is composed of members from both the U.S. Senate and the House of Representatives.

Frequently Asked Questions

What is the purpose of this hearing?

The hearing was held to explore how social institutions like families and community groups contribute to economic opportunity, rather than focusing solely on financial capital.

Who testified at this hearing?

The witnesses included Dr. Nathaniel Hendren (Harvard), Dr. Ryan Streeter (American Enterprise Institute), Mr. Jose A. Quinonez (Mission Asset Fund), and Dr. Patrick Sharkey (NYU).

Why It Matters

The hearing establishes the legislative framework and expert testimony used by the to evaluate how non-financial social structures influence national economic policy and individual upward mobility.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Broadening Economic Metrics

The committee explicitly sought to shift the focus of economic policy discussions from purely financial indicators to the inclusion of 'social capital' as a measurable asset.

Joint Economic Committee Mike Lee

Connected Entities

personCarolyn B. Maloney“Vice Chair of the Joint Economic Committee.”Map →

personPatrick Sharkey“Professor and Chair of the Sociology Department at NYU and witness.”Map →

personNathaniel Hendren“Professor of Economics at Harvard University and witness.”Map →

organizationJoint Economic Committee“Congressional committee conducting the hearing.”Map →

personJose A. Quinonez“Founder and CEO of Mission Asset Fund and witness.”Map →

personMike Lee“Chairman of the Joint Economic Committee and U.S. Senator from Utah.”Map →

personRyan Streeter“Director of Domestic Policy Studies at the American Enterprise Institute and wit”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance40
How much this matters to a regular citizen
Controversy10
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz5
Current news / social attention level

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