Bidenomics – Band-Aid or Cure against Inequitable Social Development?

“President Biden made clear that rising inequality and the associated socioeconomic ailments will define his agenda, which some observers equate with a Europeanization of U.S. politics” as stated by the author. Marcus Marktanner explores this postulation by discussing key elements of Biden's economic agenda from a comparative perspective. He compares European style social market economics and U.S. economic policies in areas of health, education, social security, and competition policy. The author concludes that “Many people in the U.S. mistake Europe’s social market economy for socialism, but for Europeans the social market economy means competitiveness, balancing market freedom with equitable social development, and being responsive to market failures.”

The views, conclusions and recommendations expressed in this report are solely those of its author and do not reflect the views of the Konrad-Adenauer-Stiftung, or its employees.