The Kamala Harris administration is expected to continue the policies of the Biden administration, building on and perpetuating Bidenomics with an added infusion of Marxist principles.
The critical flaw of Bidenomics, which will be even more pronounced in Kamalnomics, is the failure to recognize that real wealth gains in an economy require entrepreneurs. The profit motive drives entrepreneurs to innovate, create new products, and find more efficient ways to satisfy people’s needs and wants, making life easier. Government transfers, welfare, soft loans, and DEI initiatives cannot achieve this goal. Worst of all, under the White House’s national industrial policy, the government will attempt to engage in entrepreneurship, gambling with taxpayer money.
President Joe Biden is the first U.S. president to establish a comprehensive national industrial policy document, a move reminiscent of strategies used by China and other communist countries. In these countries, the central government opens its own companies and provides soft loans and other benefits to favored companies or demographics that align with its vision for the economy.
Biden’s policy aims to address issues like climate change and economic inequality, which are not profit-driven goals. Private companies operate with the primary aim of making a profit, and even then, many still face bankruptcy. A company with any other primary goal is unlikely to succeed. However, a government company doesn’t face the same risk of bankruptcy; when it runs out of taxpayer money, it can simply request more from the central government.
The industrial policy will also focus on creating “good, union jobs.” How can Biden know in advance that the workers will choose to unionize?
Hellbound and Down 