The Foreign Affairs Interview What Happened to Bidenomics?
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Feb 13, 2025 
Join Jason Furman, Aetna Professor at Harvard and former chair of the White House Council of Economic Advisers, as he dives into the complexities of Biden's economic policies. Furman highlights the stark disconnect between optimistic goals and voters' realities, linking this gap to Trump’s resurgence. He critiques the post-neoliberal delusion held by both parties and explores alternative approaches to tackle inflation and manufacturing struggles. The conversation also touches on the influence of private sector challenges and the vital role of industrial policy in national security.
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US Economic Performance
- The US economy has outperformed others due to better productivity growth, favorable demographics, and immigration.
- This strong performance has been consistent across the Trump and Biden administrations, suggesting structural factors at play.
Risks of Trump's Policies
- Trump's early economic policies risk harming long-term productivity and labor force growth.
- The uncertainty around trade, higher interest rates, and immigration policies could negatively impact innovation and investment.
Bidenomics' Critique
- Bidenomics' "post-neoliberal" critique questions scarcity, budget constraints, and the centrality of economic analysis.
- It favors combined economic and political approaches, industrial policy, and a Green New Deal.