Center for American Progress

With trickle-down economics a failure, Biden sees an opening to invest in the American people
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With trickle-down economics a failure, Biden sees an opening to invest in the American people

Author Andres Vinelli explains why it is necessary to embrace a new approach to the economy that ensures everyday Americans have the resources to build a new era of inclusive economic growth.

Today, the Bureau of Economic Analysis released its first-quarter estimate of gross domestic product growth, showing that the economy has grown at an annual rate of 6.4% so far this year. This growth rate is a good sign that the economy is starting to take off, both in terms of increased employment and overall economic growth.

This promising economic performance could be not only a welcome change from a very bad year, but the beginning of a new era that brings forth increased and widely shared economic prosperity. But in order to achieve higher levels of prosperity and good jobs for all, we need to shed the old beliefs that hold us back and seize the opportunity to embrace the challenges and promises of a modern economy.

The above excerpt was originally published in MarketWatch. Click here to view the full article.

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Authors

Andres Vinelli

Vice President, Economic Policy