When President Biden led the way almost two years ago in brokering a worldwide deal to set a minimum corporate tax rate, it looked like a triumph abroad. Now, as the world comes closer to actually collecting the taxes the United States advocated, it s starting to seem like chaos here at home.
We now have the first post-neoliberal administration in power in Washington. The Biden administration has explicitly disavowed all aspects of neoliberalism, including the assumptions about free trade and the alleged efficiency of outsourcing, the lack of support for trade unions, and the bipartisan contempt for industrial policy … Biden managed to get through Congress the most expansive technology and industrial policies since World War II.2