Chairman and Chief Economist
Ready Nation Advisory and Invest in Kids Working Group
"Workforce Development and Economic Growth: Using Pay-for-Success Finance to Strengthen the Youth Human Capital Sector"
The most important product the economy produces is ready-for-life 18 year-olds. The youth human capital sector produces them. The prenatal to age-five portion is twice the GDP of the auto sector, and prenatal to 18 is 30% larger than the entire financial sector. But Defense Department research shows that 75% of 18 to 24 year-olds cannot qualify to be Army privates due to lack of education, poor health, legal issues, and drug dependencies. Pay-for-success social impact finance is an innovation that can make the human capital sector much more productive, resulting in a stronger US workforce and faster economic growth.
Robert H. Dugger, PhD, is a venture capital investor, retired partner in the hedge fund Tudor Investment Corporation, and former board chairman of Singita-Grumeti Reserves, a Tanzanian wildlife conservation and tourism project that Travel & Leisure magazine ranks number one in the world. Dr. Dugger’s main interest is early child development and organizing strong business coalitions in states to support high-return investment spending in children prenatal to five.
He co-founded ReadyNation to do this work and in recognition was the first recipient of ZERO TO THREE’s Reiner Award for Outstanding Advocacy on Behalf of Very Young Children.
Dr. Dugger began his career at the Federal Reserve Board in 1972, and in the 1980s served on the staffs of the House and Senate banking committees and the American Bankers Association. From 1992 to 2008 he was a partner in Tudor Investment Corporation. To improve the quality of economic research and analysis, Dr. Dugger participated in founding the Institute for New Economic Thinking in 2009 and serves on its governing board and its advisory board. Together with Dr. James Heckman, University of Chicago professor and Nobel Prize winner, and Dr. Steven Durlauf of the University of Wisconsin-Madison, Dr. Dugger heads INET’s Global Working Group on Human Capital and Economic Opportunity.
Dr. Dugger received his BA from Davidson College and his PhD in economics from the University of North Carolina at Chapel Hill on a Federal Reserve Dissertation Fellowship.
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