… an economic team

that will support workers

FILTERED BY DR ZOOM

Rana Faroohar: Mr Biden is absolutely right to say that we need to start rewarding “work, not wealth”. But slogans are one thing, and shifts in economic paradigm are another. The changes that will be required to right the listing ship aren’t incremental but systemic. After more than four decades, financialised growth via easy monetary policy is tapped out. What is needed now is a big fiscal stimulus to get through the coming months and years. That means someone like Massachusetts senator Elizabeth Warren at the Treasury, who has the will and ability to re-anchor the financial sector to the real economy, and perhaps former New York City mayor, Michael Bloomberg, at the commerce department, who could orchestrate a national competitiveness plan for a world in which we need closer collaboration between employers, educators and workers.

https://www.ft.com/content/db11287f-b2a6-45fc-b17b-cee6daf860a6