Joe Biden’s revolution eats itself
It’s like fighting a war, argued economist Paul Krugman – no point worrying about the cost. It’ll create a “stronger industrial base”, said economist Mariana Mazzucato. It’ll “speed the recovery”, said Janet Yellen, another economist, now Treasury secretary. When President Biden unveiled his huge $1.9trn stimulus programme at the start of the year, it had no shortage of cheerleaders from the economics establishment. And yet, only
