If the economy rewards those with power, then we cannot build a robust and inclusive society without addressing America’s structural power imbalances.
1. Curbing Concentrated Power:
We must enact new rules that are capable of tackling concentrated wealth and power. This requires policy and regulatory changes that can reduce uncompetitive advantages and re-establish fair rules of play: enhanced antitrust enforcement, taxes on wealth and excess income, corporate governance reform, changes to labor laws, and anti-corruption reform, to name a few.
2. Reclaiming Public Power:
We must reimagine public interventions as essential to supporting security, prosperity, and inclusion in ways that markets, when left alone, never will. This means increasing the government’s role in traditional areas like health care and education. But it also means thinking about the government’s power to build a stronger country in a much more expansive way: directly providing goods and services like health care, rather than trying to facilitate market provision through subsidies to extractive providers; directing investment toward big public goals, like decarbonizing our economy, rather than relying on markets to transition quickly and justly.