“Yes, at the margin, there’ll be some more chips made here. Is it going to be, are we going to get 30%, 40%, 50% of global production? No, nowhere near that.

Is the ED revolution going to continue? I don’t think the $7,500 rebate is going to drive that. What’s going to drive that is ultimately market economics and innovation.

You might coax another mile or two per gallon out of internal combustion engines, but if there’s going to be a tech breakthrough, it’s going to be across the battery platforms and the mileage and the range and the pricing there. That seems to be something that consumers will adopt as the market compels them to adopt it. Investment in local infrastructure.

Look, that’s always a good idea, but I don’t think there’s anything transformative there. You might get a little bit of a productivity boost if you’ve got more efficient airports and roads, but it’s not going to be like the invention of the steam engine or anything like that in terms of a productivity enhancing thing. So yeah, it’s marginal improvement over time, but transformative, I don’t think yet.”

From Reuters Econ World: ‘Bidenomics’, Jul 24, 2024
https://podcasts.apple.com/ca/podcast/reuters-econ-world/id1746360591?i=1000663217625
This material may be protected by copyright.

“So as far as the ideas, I think the Biden team came into office with a lot of optimism about being able to change some things structurally about the US economy. And so just in terms of staffing, I think Joe Biden surprised a lot of people by bringing in a lot of people who had worked for Elizabeth Warren, his primary competitor, who had a lot of progressive ideas. There were a lot of lawyers in the mix who wanted to kind of shake things up in terms of competition policy, getting more companies to compete and to be more very aggressive on mergers.

And then also in terms of industrial policy, so getting behind the chips industry, electric vehicles, batteries, this kind of thing. And so there was a lot of kind of optimism coming into this administration that they could kind of fundamentally rework the economy in a way that would benefit workers. And then as far politically, as far as kind of coming up with this term Bidenomics, it was something that Biden’s senior team saw written about in newspapers in a derogatory fashion.

And they thought, hey, let’s adopt this term. Let’s flip the script[…]”

“Yes, at the margin, there’ll be some more chips made here. Is it going to be, are we going to get 30%, 40%, 50% of global production? No, nowhere near that.

Is the ED revolution going to continue? I don’t think the $7,500 rebate is going to drive that. What’s going to drive that is ultimately market economics and innovation.

You might coax another mile or two per gallon out of internal combustion engines, but if there’s going to be a tech breakthrough, it’s going to be across the battery platforms and the mileage and the range and the pricing there. That seems to be something that consumers will adopt as the market compels them to adopt it. Investment in local infrastructure.

Look, that’s always a good idea, but I don’t think there’s anything transformative there. You might get a little bit of a productivity boost if you’ve got more efficient airports and roads, but it’s not going to be like the invention of the steam engine or anything like that in terms of a productivity enhancing thing. So yeah, it’s marginal improvement over time, but transformative, I don’t think yet.”

From Reuters Econ World: ‘Bidenomics’, Jul 24, 2024
https://podcasts.apple.com/ca/podcast/reuters-econ-world/id1746360591?i=1000663217625
This material may be protected by copyright.

From Reuters Econ World: ‘Bidenomics’, Jul 24, 2024
https://podcasts.apple.com/ca/podcast/reuters-econ-world/id1746360591?i=1000663217625
This material may be protected by copyright.