The global economic crisis is rapidly worsening. Meanwhile the incoming Obama administration is intensively developing plans to ward off economic catastrophe. In this atmosphere of hope laced with tremendous uncertainty, a group of progressive economists met on November 21, 2008 at the New School for Social Research in New York for a discussion, sponsored by the Political Economy Research Institute (PERI) of the University of Massachusetts, Amherst and the New School’s Schwartz Center for Economic Policy Analysis (SCEPA), with financial support from the Ford Foundation. The goal of the meeting was to discuss macroeconomic and financial policies for economic revival that can solve the short-term crisis we face and help put the economy on an environmentally sustainable path of widely shared prosperity. From that meeting evolved a statement of principles signed by many of the participants (www.peri.umass.edu or www.newschool.edu/cepa), as well as the more detailed program presented here.