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Much to Restore, Much to Build
Published online by Cambridge University Press: 08 May 2024
Joe Biden’s first two years became a turning point. The country had reached a point where it was obvious that the mix of government and markets had titled too much in the direction of markets. Besides the COVID pandemic, Biden confronted growing inflation, an economic recession, and Trump’s refusal to do anything to address climate change, together with a deeply divided partisan Congress. Biden galvanized the Democrats to unite around significant and bold responses and even obtained bipartisan support for some of his legislative agenda. He passed legislation to address COVID and increase government investment in infrastructure and technological developments. Regarding these successes and the inability to do more, Biden focused on how the balance between government and markets depends on the role of government right-sizing that balance by trying to restore confidence in American government and American democracy.
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