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Most Democrats I know are happy with Joe Biden’s presidency. This man is like a political Yoda, using the Government Force to turn the worst economic crisis since the Depression In 100 days. His Job Plan, Covert crisis management and moves to a system that rewards the country labor not wealth many will bring about the changes they have hoped to see over the decades. There are higher labor standards and a fairer tax system on the agenda, investments in health, child care and education, and more elastic supply chains. Republicans are also like better roads and broadband.
Some of what Biden proposes, for example the use of union labor in federal contracts and the defense of U.S. commercial interests, it can be done with the stroke of a pen from the White House. But they will have to do multimillion-dollar stimulus programs pass Congress. That depends on the Democrats having a majority in the House (the Senate is split 50-50). Even if the plans are exceeded, the implementation will be complex.
The practical details of many of the programs — how they would be deployed, which agencies (state or federal) would be responsible, and how they would be funded — are still few. But as more detailed plans emerge, it is likely to lead to trade-offs between a wide range of stakeholders. That’s when the hard work begins.
First, there are the usual considerations to be made between politics and politics, especially those that are important before the midterm elections, where Democrats are at risk of losing the margin of support they have in the House.
Survey show both Republicans and Democrats want infrastructure investment in new bridges and broadband. The question is where the money goes. A large percentage of construction trade unionists voted in favor of Donald Trump in the last election. These voters, many of whom are in state swing, want early spending to be ready on the pallets that will put a large number of employees to work quickly, something the president acknowledged in a speech he gave in Congress last week, calling his work plan a “neck plan” to “build better”.
Reconstruction of bridges and roads is necessary and provides opportunities for tape cutting. But strengthening broadband in communities that don’t need it, some of which are in rural areas but many in large urban areas, it’s even more important. However, the efforts are not so impressive. Initial investments would be focused on equipment rather than people, and the process of laying cable and fiber is slow. The same is true in cases such as strengthening the supply of semiconductors. It takes years to build a foundry, not months.
This underscores the tension between short-term and long-term priorities. U.S. capital markets, and especially capitalist venture capitalists want fast results and high outflows. But rebuilding the industrial base and moving to a green economy is a multi-decade proposal. It may require a completely new long-term financing system, such as a public infrastructure bank, not to mention a commitment to industrial policy.
He will also need the help of allies. The difference between what will be sold at home and what is sold abroad can be the president’s biggest challenge. Speaking at the Biden Congress, Biden said he has had talks with world leaders who believe the U.S. is “back”, but “until when?” They want to know that Europeans can understand that they can count on the political stability of Americans before they commit to liberal democratic alliances over trade, taxation, and technology, especially China-EU trade links.
Europe and America need each other and should work together to develop the digital alliance it offers a liberal-democratic alternative state-based surveillance capitalism in the Beijing style or the indefinite Big Tech monopolies represented by Silicon Valley groups. But if Europe realizes that long-term interests are better protected by Washington by tightening relations with Washington than by Beijing, Europeans and Americans have different corporate interest groups that put pressure on priority and protection.
Witness, for example, Apple and Google fighting Bayer, Siemens and BASF over patent rules and who gets what part of the XXI. The value of the digital economy of the century. Or European concerns about US data regulation. Germany will be zero in how all this will play out, as the US is pushing the country to choose between 5G and different chip systems. In this fight, German exporters selling to the US and China have a lot to lose. As a lawyer representing strong U.S. labor interests recently told me, “Germany is trying to have two paths with China, and they can’t.”
Biden also can’t be a pro-work president and one who seems to easily walk into Big Tech. Silicon Valley is under a lot of pressure in Washington, which has two-striped politicians in its pocket. The Uberization of more types of work failure of trade union activists To organize in technology companies like Amazon and to argue that platform monopolies should not be broken because they have to be big To defend America’s national economic interests all threaten Biden’s view that “work is not wealth”. This political struggle of Yoda has only just begun.
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