The Failed Experiment in Post-Neoliberalism

The Biden Experiment: A Post-Neoliberal Turn

With the support of post-neoliberal thinkers, President Joe Biden embarked on a bold economic agenda, aimed at resuscitating the working class by abandoning traditional policies and embracing policies such as union support and industrial subsidies.

Lordstown: A Case Study

The town of Lordstown, Ohio, symbolized the hope for the success of Biden's agenda. With the establishment of a new manufacturing plant, job creation was high. However, in the 2024 election, the county swung heavily towards Trump, indicating the failure of the post-neoliberal strategy.

The Theory and Its Fallback

The theory held that Trump's election represented a voter backlash against neoliberalism, which had impoverished the working class. The solution was to reject neoliberalism and revert to populist policies. However, despite implementing significant changes, Biden failed to win back the support of the working class.

Attempts at Explaining the Failure

Supporters of post-neoliberalism offer various explanations for the failure. Some suggest that Biden was not a strong enough communicator; others argue that policies simply need more time to show their benefits; and some highlight the impact of inflation.

The True Reasons

Despite these explanations, evidence points to other factors behind the failure. The theory that Trump's popularity was a reaction against neoliberalism is flawed. The Republican and Democratic parties have differed significantly in their economic policies, with post-neoliberal theories failing to capture this divide.

Beyond Populism

The election results suggest that there is more to popularity than populism. Economic policies that resonate with voters must go beyond superficial measures and address their broader concerns.

Lessons Learned

The Biden experiment has demonstrated that there is no easy formula for reversing the rightward drift of the working class. The notion that populism is the key has been proven false. Public policy must focus on improving people's lives, not solely on winning elections.

**Expert Quote:**

"The rejection of neoliberalism has failed to attract working-class voters, indicating that populism alone is not enough to secure electoral success." - Matthew Yglesias, Vox