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The Committee for Economic Development (CED) is an independent, non-profit, non-partisan American think tank based in Washington, DC. Its membership consists of senior corporate executives and university leaders. According to its mission statement, the organization is "dedicated to policy research on the major economic and social issues of our time and the implementation of its recommendations by the public and private sectors."

History

CED was founded in 1942 by a group of business leaders led by Paul G. Hoffman, President of the Studebaker Corporation; William Benton, co-founder of Benton & Bowles advertising firm; and Marion B. Folsom, treasurer of Eastman Kodak Company. CED's first mission was to help the U.S. economy transition from war to peace-time prosperity. At the end of World War II, CED played a key role in garnering support among the American business community for the Marshall Plan. CED's work also influenced the Bretton Woods Agreement.

In the 1980s, CED became the first national business organization to become actively involved in education policy. Viewing students as future leaders, citizens, and workers, CED saw improving educational outcomes as vital to economic growth. In recent years, CED has been in the forefront of efforts to quantify the economic benefits of investments in high-quality early education, and in building support among the business community for voluntary, universal preschool.

CED has also played a critical role in the campaign finance reform debate. As the only national business group to actively support the soft money ban, CED played a decisive role in building support among the business community for passage of the Bipartisan Campaign Reform Act of 2002.

CED has also been active on national budget and fiscal policy. Concerned about the enormous and ballooning federal budget deficit and its effect on long-term economic growth and standard of living, CED has been in the vanguard of the effort to rein in the deficit and to effect action ensuring responsible and forward-looking budget policy in Washington.

Organization

CED's current acting president is Michael Petro. The current co-chairs of CED are W. Bowman Cutter, Managing Director, Warburg Pincus LLC; and Roderick M. Hills, Partner, Hills, Stern & Morley LLP.

CED is led by its 200 member Board of Trustees. CED's Executive Committee is the organization's primary executive body. The Research and Policy Committee (R&P) directs the research agenda at CED.

Once the R&P approves of a research project, a subcommittee of Trustees is formed to direct the research and formulation of policy recommendations. CED's staff, often assisted by outside experts, conducts the research and prepares drafts for review by the subcommittee. Once the subcommittee is satisfied with the findings and recommendations, they are submitted for final approval. A majority of members of the R&P and the applicable subcommittee must approve of the work in order for it to be approved as an official "policy statement." CED's policy statements are its flagship publications, constituting the official policy positions of CED.

Policy Programs

The Committee for Economic Development has seven major advocacy programs: Fiscal Health, Postsecondary Education, Money in Politics, Early Childhood Education, Teacher Effectiveness, Corporate Governance, Innovation and Technology, and Women's economic empowerment. CED's scholars' research is presented at conferences and meetings, in peer-reviewed reports and publications on the institute's website.

Fiscal Health

Fiscal Health is an important focus for the Committee for Economic Development. Throughout the ongoing U.S. debt crisis, CED has provided in-depth, non-partisan analysis and outreach focused on the case for principled compromise in the U.S. Congress, the media, and the American public. According to CED's latest report "This Way Down" "Today’s generation of elected leaders must accept responsibility for the condition of our economy. They must choose our future." Where throughout it all, CED's business and academic leaders have advocated for a bipartisan solution to the nation's long-term debt crisis.

Postsecondary Education

Another key aspect of CED is postsecondary education. CED scholars examine the role and value of America's higher education system in fueling an economic recovery from a business perspective. In their latest report, CED highlights the consequences of a high rising tuition and the strain that it has on the American Public. In order for the United States postsecondary education to remain legitimate and on top, various changes must be made to help America's economic prospects.

Money in Politics

Money and its influence in politics have encouraged a troubling mentality that encourages political giving as a means of influencing legislative decision-making. CED experts examine the process of judicial selection and the role of money in the political system, and propose reform. CED has been involved in multiple finance reform efforts to try to remove the pay-to-play mentality that has grown ever so prevalent in today's society, including urging key business leaders to resist continuing the role that money has in politics and to publicize all donations.

Early Childhood Education

For over fourty years, CED has been involved with Early Childhood Education. According to CED's annual report "High-quality early education programs are vital to future economic growth and maintaining a highly skilled workforce." and that " continues to believe that these human investments are among the most important that our nation can make, and that the business community should take the lead in making this case to both policy- makers and the public at large." The CED initiative is aimed at engaging business leaders across the country in the effort to develop more high-quality early learning opportunities for children from birth to age 8.

Teacher Effectiveness

CED believes that improving the quality and support of our nation's education workforce is critical to addressing the economic and societal challenges of the United States. With more adept teaching methods, CED hopes that it will help trigger a greater turnaround for American schools.

Corporate Governance

CED's work on this issue seeks to address the crisis in confidence about business' ability to govern itself and to be accountable in the wake of the Great Recession. CED values high integrity used by Corporate leaders to not only better their companies but also better society. As CED trustee William Donaldson states "Now is the time for the business community to think seriously about its interdependent relationship with the broader society. Now is the time to reevaluate failed strategies and to think about how we might do things differently."

Innovation and Technology

The world is rapidly changing along with its technology. From the rise of the internet to the growth of digitized information, technology is affecting almost every aspect of peoples' lives. CED reports, through its Digital Connections Council, have focused on "openness" and how open-access to research, open design of software, and open innovation are adding value to America's scientific, technological, and commercial activities.

Women’s Economic Empowerment

Women have excelled in educational attainment and have been led to expect full equality in the workplace. That expectation, and the progress built upon it, is undermined when women cannot achieve equal status on the highest rung of the corporate ladder—the board. In 2011, women occupied just 16 percent of Fortune 500 board seats. That percentage is far below the percentages of women in the labor force, enrolled in higher education, and graduating with advanced degrees. This leaves untapped an important source of expertise and insight. Without a serious commitment to bringing more women onto boards, U.S. corporations will find themselves falling behind international competitors that are getting the most out of an expanding pool of talented women by opening to them more opportunities for success and advancement.

External links

• Committee for Economic Development Official Website
• Committee For Economic Development Official Twitter Page
• Committee for Economic Development Official Facebook Page
• CED's Official Blog

• Non-governmental organizations based in the United States
• Political and economic think tanks in the United States