Biden adviser warned of capitalist ‘implosion’ without post-pandemic economic restructuring – By Brittany De Lea (FOX Business) / Dec 1 2020
Jared Bernstein has called for redefining the role of the government in the US economy
President-Elect Joe Biden announced members of his economic team this week, including a longtime adviser who has some ideas for reinvigorating the economy when the pandemic passes.
Jared Bernstein, who has been tapped to serve on Biden’s Council of Economic Advisers, previously said the U.S. economy would need to be reinvented – centered largely on a reimagined relationship with the government.
“The coronavirus, too, demands a thorough restructuring of the relationship between government and markets — one that leaves us much better prepared for a set of challenges that tend to recur but that somehow always surprise us,” Bernstein said in an op-ed published in The Washington Post in March. “We need to restructure the role of government in the economy to avoid, at best, being back here again in a few years — and, at worst, the implosion of a capitalist society that large swaths of the public have every right to question.”
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