Biden’s Absurd New Economic Messaging Strategy
After spending months trying to sell his economic agenda under the banner of “Bidenomics,” the president’s team is frustrated. Voters aren’t believing them when they say that the economy is doing excellent and that Joe Biden deserves the credit.
Rather than make a meaningful attempt to understand the American people’s economic pain and recognize why it isn’t being detected by traditional economic indicators, the president’s team has settled on a different solution—experimenting with different economic messaging.
As the general election fast approaches, Team Biden is rolling out a new economic argument that, in the words of POLITICO’s Adam Cancryn, “tries to frame former President Donald Trump as the candidate of corporate tax cuts and Biden as a scourge of the ultra-wealthy.”
But Biden is no scourge of the ultrawealthy. In fact, he is a dear friend and ally of the wealthy cronies and plutocrats that make up the worst of America’s upper classes.
The “wealthy” in America are not a monolith. There is an important distinction to be made between the members of this class—how they made their money.
As Franz Oppenheimer pointed out ninety-eight years ago and Murray Rothbard built upon forty-eight years later, there are two mutually exclusive ways of acquiring wealth. The first is through production and exchange.
Among the wealthy, that usually means those who successfully engaged in entrepreneurship—those who hypothesized that people would value a new good or service; invested their time, labor, and money into production to find out; and were proven
Article from Mises Wire
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