Forty years of plucking out regulations didn’t deliver the growth that was promised. So the administration is trying something very different.
If there’s one thing the White House and its critics seem to agree on, it’s that the Biden administration’s approach to economic policy—which it has branded “Bidenomics”—is a sharp break from how things have been done for the past several decades. “Forty years ago, we chose the wrong path, in my view,” Joe Biden said at an event in July 2021. But what exactly was that wrong path—and what is Biden’s economic team trying to do differently?