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Nov 1, 2024
From Rubinomics to Bidenomics
On the Democratic Party’s Shifting Trade & Industrial Policy
Summary
This is episode two Cited Podcast’s new season, the Use & Abuse of Economic Expertise. This season tells stories of the political and scholarly battles behind the economic ideas that shape our world. For a full list of credits, and for the rest of the episodes, visit the series page.
This episode looks at shifting landscape of economic thinking within the Democratic Party. First, historian Lily Geismer, author of Left Behind: The Democrats’ Failed Attempt to Solve Inequality, tells us the story of how the Democrats became captured by the Clintonian ‘Third Way.’ The Third Way argued that economic policy should move away from the sunset industries, like the unionized industrial labour that typically made the Democratic base, and move towards the sunrise industries of tech and finance.
Then, the Biden team came to see this thinking as precipitating the rise of Trumpism. So free-wheeling trade and industrial policy is out, and the Clinton-era neoliberal consensus just is not a consensus anymore–some even claim neoliberalism is dead. Bidenomics replaced it, whatever that is. Yet, Bidenomics was a political dud, and now it looks like it might be on the way out. Where is the US’ economic policy thinking going on November 5th, and beyond? We try to figure that out, with the help of political economist Mark Blyth, author of the forthcoming Inflation: A Guide for Users and Losers.
Your Host
Gordon Katic
Gordon Katic is an award-winning radio producer and journalist with a background in health, science, and climate reporting. He is director of Cited Media Productions, which produced Cited Podcast and CRACKDOWN. Now, Gordon hosts Darts and Letters. When he’s not making podcasts, he’s working on a PhD at the University of Toronto focussed on theorizing a critical theory of science communication. Previously, he earned a Masters in Journalism from the University of British Columbia.
