1. Bidenomics: A Giant Step Forward for Workers.
- Author
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Levinson, Mark
- Subjects
- *
POLITICAL science , *UNEMPLOYMENT statistics , *GOVERNMENT policy , *ECONOMIC policy ,UNITED States economy - Abstract
This article explores the effects of economic policy on workers and the labor movement in the United States. It notes a decline in workers' bargaining power since the late 1970s, leading to lower wages and increased inequality. The article traces this trend to corporate and government actions, including the weakening of unions and a focus on deficit reduction rather than investments. It then examines President Biden's economic policies, which aim to address inequality, combat climate change, and revive the economy. These policies involve significant investments in infrastructure, clean energy, healthcare, and education. Despite facing opposition, Biden's policies have been enacted into law, providing funding for job creation, poverty reduction, and the revitalization of the chip manufacturing industry. The article discusses the positive impact of these policies, such as low unemployment rates, rising wages, and reduced inequality. It also emphasizes the importance of labor law reform and enforcement to strengthen workers' bargaining power. Additionally, it examines the government's role in promoting manufacturing growth and addressing issues like deteriorating infrastructure, climate change, and inequality. The article concludes by discussing the need for the socialization of investment and the challenges involved in achieving these goals. [Extracted from the article]
- Published
- 2024
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