ANALYSIS: Bidenomics: Big Government, Industrial Policy and Centralized Control

With an eye toward the upcoming presidential elections, the White House has launched a new public relations campaign, called  Bidenomics, to define President Joe Biden’s economic agenda.
“I don’t know what … that is, but it’s working,” Mr. Biden stated at a June 17 union rally in Philadelphia, begging the question, what is Bidenomics, and is it working? 
According to a White House statement, Bidenomics rests on three pillars: massive “smart” government spending on renewable energy and semiconductors, support for unions and domestic manufacturing, and promotion of competition. As a result, the White House states that “our economy has added more than 13 million jobs—including nearly 800,000 manufacturing jobs—and we’ve unleashed a manufacturing and clean energy boom.” …}