The Labor Market Bidenomics Created
July 28, 2023
How Bidenomics Has Helped Create a Strong Labor Market
Journalists and pundits have often used the term Bidenomics to describe the president’s approach to economic growth.
Now, President Biden is fully embracing it, and defining it more explicitly—an in-progress success story driven by public investment and focused on workers and the middle class.
At a media conference call hosted by the Roosevelt Institute yesterday, Sen. Chris Murphy, National Economic Council Deputy Director Bharat Ramamurti, and Roosevelt’s Suzanne Kahn looked back at how Biden’s economic policies have driven job and wage growth in the last 2.5 years. And they took a wider lens, exploring how Bidenomics has departed from 40 years of markets-first and markets-only approaches, and where it goes next.
“The end goal is strong families. The end goal of our economic policy is strong communities. It’s empowered workers,” said Sen. Murphy.
“And so I’m thrilled that at the heart of Bidenomics is a real attack on this cult of the market, the cult of efficiency, and the cult of profit that has caused a massive separation between those at the very top of our economy and everyone else . . .”