Today, Explained
Bidenomics
Jul 20, 2023
Jeff Stein, a White House economics reporter for The Washington Post, dives into the intricacies of Bidenomics, a new economic approach focused on supporting workers and industries rather than traditional consumer costs. He discusses aggressive antitrust policies aimed at tackling monopolies and the transformative fiscal measures, including a substantial stimulus for clean energy. Stein also highlights the challenges of boosting union membership against political pushback and the disconnect between positive economic indicators and public sentiment regarding inflation.
25:51
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Quick takeaways
- Bidenomics focuses on workers and key industries, not just consumer benefits.
- Biden aims to boost clean energy manufacturing and reverse the decline in manufacturing jobs.
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Overview of Bidenomics
Bidenomics marks a shift in economic policy, aiming to focus on workers and key industries beyond just consumer benefits. Biden's approach includes expanding antitrust, fiscal, industrial, and labor policies. Lena Kahn's appointment illustrates a significant change in antitrust enforcement, challenging monopolistic practices. The fiscal policy under Biden saw a significant economic stimulus aimed at empowering workers and increasing wages.
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