The President of the United States, Joe Biden, said this Thursday (9) before businessmen from the American continent that it is time to bury neoliberalism and adopt policies that promote better-paying jobs.
“From my point of view, we have to update our recipe for economic growth. In my opinion, it is time to bury the drip economy,” said the president during an event at the IX Summit of the Americas, which takes place in Los Angeles.80144410270018014441027001The “drip economy” is an economic theory who played a major role during Ronald Reagan’s presidency in the US (1981-2009) and which proposes the reduction of taxes on companies and upper classes to stimulate investment.8014441027001 8014441027001Biden argued that “any job can be r done by paying good wages and respecting the rights of workers”, so that families have greater well-being and thus “everyone wins”, including employers.100844068014441027001 In addition, he stated that neoliberal recipes, which were also criticized in his time by former President Barack Obama (2009-2017), generate “greater inequality, lower growth , less competition and less innovation.”80144410270018014441027001The American ruler also reiterated his support for the unionization of workers, since more than once he defined himself as a “pro-trade union president”.
Likewise, he stated that he is in favor of using international financial organizations, such as the Inter-American Development Bank (IDB), to combat inequalities in the region.
8014441027001“For example, we have to make it easier for Latin American and Caribbean countries to develop 5G infrastructure without having to choose between investing in a digital future or investing in renewable energy”, he commented.