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Bidenomics Is Making China Angry. That’s OK.
(www.nytimes.com)
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this post was submitted on 29 Mar 2024
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politics
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when we added socialist elements to capitalism (eg. social security, free healthcare, free education and so on) it didnt stop being capitalism.
same thing here, this is not unlike when the US was putting tariffs on japanese electronics, back when they were getting good at it. branding protectionism with his own name ("bidenomics!") only makes sense to me in the context of a campaigning politician trying to make it sound like hes doing something new or revolutionary.
One definition of neoliberalism
What is any of that about what Biden is doing? You didn’t answer me on that, just repeated the label without explaining details or why it applies, and to me it sounds like the exact opposite.
Or, wait, are you saying that okay yes Biden’s policy is a trillion dollars in the exact opposite direction from neoliberalism, but it doesn’t count, because it’s only an “element” and the overall structure is still neoliberal? I.e. he didn’t seize the means of production, so you can call him a neoliberal no matter what he does, until that happens?
that definition you quoted seems pretty on point with what almost every IS president in my memory has been doing. a little bit of protectionism in a specific industry sector is a drop in the bucket.
Absolutely accurate yes, which is what made it surprising when Biden started doing different things
So if he were doing a whole lot more things than that little bit of protectionism in one specific industry sector...
(I sent a link earlier on)
This is a very black and white view of things, though. Norway is seen as capitalist, yet 2/3rds of Norway's GDP is driven by its public sector, the government owns 30% of the domestic stock market, they have a massive government wealth fund that makes returns in hundreds of billions of dollars annually which they could singlehandedly fund UBI with, they apply Georgist taxes to natural resources (oil, hydro, aquafarms) to collectivize profits made off public land, 60% union density, 20% of housing is collectively owned (housing coops)...
Like, at what point do we call a country "socialist"?
(Not to call the US socialist, but Bidenomics might lean like 1% in that direction, and that's my point - it's going in a socialist direction if very slowly, and if we can maintain it)
exatly what i mean. its not black and white!