Now All Biden Has to Do Is Build It

Innovative Models

Felicia Wong highlights innovative models for tackling economic challenges, emphasizing the need for thoughtful and inclusive approaches. She suggests participatory budgeting and worker cooperatives as potential solutions, which allow communities to have a say in economic decisions and ownership structures 1. Wong believes these models, though not widely scaled, could be adapted to fit the unique complexities of the American system.

I would encourage us to think about these other ways of both economic problem solving and economic decision making.

--- Felicia Wong

These approaches could play a crucial role in implementing the extensive legislation recently passed under the Biden administration.

   

Corporate Welfare

The debate over corporate welfare is central to discussions on government incentives, particularly in the semiconductor industry. Ezra Klein references Senator Bernie Sanders' critique of the CHIPS Act, which he views as crony capitalism due to the significant profits of beneficiary companies 2. Felicia Wong argues that despite these profits, the legislation aims to strengthen domestic manufacturing and address regional inequalities.

Part of what we are trying to see and do with chips or part of what this administration is trying to do is to actually deal some of these regions back in.

--- Felicia Wong

The challenge lies in balancing corporate incentives with broader economic benefits, ensuring that regions lacking investment are revitalized.