In March 2018, the Hewlett Foundation’s board approved a two-year, $10 million exploratory grantmaking effort to examine potential successors to neoliberalism, the intellectual paradigm that has dominated our economic and policy debates for the past 40 years. This exploration was predicated on the belief that neoliberalism has outlived its usefulness and needs to be replaced by something better suited to the political, economic, and social conditions of the 21st century. Earlier this year, the Hewlett Foundation’s board approved a further five-year, $50 million initiative to continue that work. This document describes the background, goals, and grantmaking strategy for the Economy and Society Initiative.