The World Next Week

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Feb 20, 2025

Jason Furman, a Harvard professor and former chair of the White House Council of Economic Advisers, discusses the shortcomings of Biden's economic policies. He critiques the 'post-neoliberal delusion' prevalent in both major parties. Furman emphasizes the need for alternative strategies to combat inflation and the impact of tariffs and manufacturing revitalization. He also explores the intersection of economic policy and national security, focusing on U.S.-China tensions and the significance of infrastructure development to enhance growth and resilience.

48:24

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Jason Furman

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Episode notes

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Quick takeaways

The podcast critiques the Biden administration's economic policies, highlighting inflation's impact on infrastructure initiatives and voter sentiments.

The discussion advocates for a balanced economic approach, recognizing the need for effective government intervention amid the evolving global economic landscape.

Deep dives

Bidenomics and Inflation's Impact

The economic policies under the Biden administration have faced significant criticism, particularly regarding how inflation has undermined key initiatives. Despite purported successes like low unemployment and GDP growth, many of Biden’s objectives, such as infrastructure investment and expanding the child tax credit, were actually diminished in real terms due to rising prices. This inflationary environment has hampered purchasing power, ultimately leading to a disconnection between the administration's goals and the lived experiences of voters. This disconnect is seen as a contributing factor to shifting political sentiments, potentially leading to a resurgence of previously defeated candidates like Donald Trump.

Intro

2min

Assessing Bidenomics: A Critical Perspective

18min

Exploring Alternative Economic Policies and Their Impact on Inflation

4min

Economic Policy and National Security Nexus

14min

Overcoming Infrastructure Challenges: The Role of Regulation

2min

Private Sector Power and Public Policy

6min

Exploring Industrial Policy: Its Role and Implications

2min

Missing The World Next Week? Host Robert McMahon shares his favorite CFR resources for news and analysis on foreign policy and global affairs. Foreign Affairs invites you to join its editor, Daniel Kurtz-Phelan, as he talks with influential thinkers and policymakers about the forces shaping the world. Whether the topic is the war in Ukraine, the United States’ competition with China, or the future of globalization, The Foreign Affairs Interview offers the kind of authoritative commentary and analysis that you can find in the magazine and on the website. In this featured episode, Dan Kurtz-Phelan speaks with Jason Furman about why the Biden administration’s economic policy fell short—and why both Democrats and Republicans should abandon what he calls their “post-neoliberal delusion.”

This episode was originally released by The Foreign Affairs Interview on February 13, 2025.

Featured Episode: Why Biden’s Economic Ambitions Fell Short

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