Joe Biden really seems to believe this, which is fine with me!
Give the man a second term, there’s no telling what he pulls off.
This new approach is based on, as President Biden’s Council of Economic Advisers wrote in a 2021 issue brief, a growing body of “empirical evidence that a strong economy depends on a solid foundation of public investment, and that investments in workers, families, and communities can pay off for decades to come.”
Eric Beinhocker, executive director of the Institute for New Economic Thinking at the University of Oxford, further explains: “It is the broad middle of the population that does the bulk of the working, innovating, and spending in the economy. Shared growth doesn’t come from giving tax cuts to rich people or deregulating the powerful, it comes from investing in, supporting, and building a large, inclusive middle class.”
Economic inclusion—the full economic participation of as many people in the economy as possible—drives a virtuous circle between increasing innovation and demand for new and better products and services, as well as creating better, higher-paying jobs. When the economy grows in that way, the lives of most people get better, not just those at the top. Economic justice and economic growth always go hand in hand.
