US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31. Biden’s American Rescue Plan, American Jobs Plan and American Families Plan add up to trillions in government spending. Photo: AFP US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31. Biden’s American Rescue Plan, American Jobs Plan and American Families Plan add up to trillions in government spending. Photo: AFP
US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31. Biden’s American Rescue Plan, American Jobs Plan and American Families Plan add up to trillions in government spending. Photo: AFP
Dani Rodrik
Opinion

Opinion

The View by Dani Rodrik

Why Biden is right to depart from decades-old Western economic orthodoxy

  • The ideas dominant since the 1980s produced highly financialised, unequal and unstable economies
  • The Biden administration has launched an overdue economic transformation. The point is not to create the next ossified orthodoxy, but to learn to adapt policies

US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31. Biden’s American Rescue Plan, American Jobs Plan and American Families Plan add up to trillions in government spending. Photo: AFP US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31. Biden’s American Rescue Plan, American Jobs Plan and American Families Plan add up to trillions in government spending. Photo: AFP
US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31. Biden’s American Rescue Plan, American Jobs Plan and American Families Plan add up to trillions in government spending. Photo: AFP
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Dani Rodrik

Dani Rodrik

Dani Rodrik, a professor of international political economy at Harvard University’s John F. Kennedy School of Government, is the author of Straight Talk on Trade: Ideas for a Sane World Economy.