Is it possible that the "Market failures" that "threatened the resiliency of the U.S. economy" refers to the disastrous mortgage market and credit default swap failures in the U.S.? Those enormous market failures really did threaten the resiliency of the U.S. economy and put us in a hole that took years to dig out from.
Like the Internet? Like the government bailout which saved GM and Chrysler and thousands of American jobs? Like FDIC insurance which protects you if your bank goes under? Like the European law which required Apple to move to standard USB-C connectors so we can finally use the same chargers on all of our mobile devices?
"In the previous era, there was reluctance to tackle clear market failures that threatened the resilience of the U.S. economy."
Really hard to understand what he means here. Lots of ways that makes sense domestically (industry/wealth concentration, labor power abatement, regulatory capture), very few ways that makes sense in the international tone of the piece.
I'm just a retired academic of very little brain, but I do a bit about rhetoric, and I have to wonder whether Sullivan's description of the policy Biden's changing, however wrongheaded, isn't merely a way to frame the changes it wants to make. Is that possible?
Is it possible that the "Market failures" that "threatened the resiliency of the U.S. economy" refers to the disastrous mortgage market and credit default swap failures in the U.S.? Those enormous market failures really did threaten the resiliency of the U.S. economy and put us in a hole that took years to dig out from.
The government generally creates market failures.
Like the Internet? Like the government bailout which saved GM and Chrysler and thousands of American jobs? Like FDIC insurance which protects you if your bank goes under? Like the European law which required Apple to move to standard USB-C connectors so we can finally use the same chargers on all of our mobile devices?
Those kind of market failures?
"In the previous era, there was reluctance to tackle clear market failures that threatened the resilience of the U.S. economy."
Really hard to understand what he means here. Lots of ways that makes sense domestically (industry/wealth concentration, labor power abatement, regulatory capture), very few ways that makes sense in the international tone of the piece.
Exactly.
Perhaps the set in stone statement referred to Trump’s attempt to tank NATO.
I'm just a retired academic of very little brain, but I do a bit about rhetoric, and I have to wonder whether Sullivan's description of the policy Biden's changing, however wrongheaded, isn't merely a way to frame the changes it wants to make. Is that possible?