Government can—and must—shape markets in the public interest.
The Roosevelt Rundown features our top stories of the week.
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Secretary of Commerce Gina Raimondo listens as President Joe Biden participates virtually in a meeting on the CHIPS and Science Act on July 25, 2022.
** Shaping Markets for the Public Good
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The last two years have seen a sea change in policymaking, with the passage of three large-scale economic policy programs—the Inflation Reduction Act, the CHIPS and Science Act, and the Infrastructure Investment and Jobs Act—primed to organize markets for better outcomes.
“[W]hat we are seeing now is not so much a return to ‘interventionist’ economic policy as it is a recognition that policymakers can and should put important policy goals first and avoid treating markets as exogenous, sacrosanct spaces,” Roosevelt senior advisor Chris Hughes and Peter Spiegler write for Democracy Journal ([link removed]) .
It’s a marketcrafting approach ([link removed]) , as they describe in a new report.
“This shift reaffirms the autonomy and power of policymakers to shape markets toward public ends,” said Hughes.
“It is a move from an ideology that fosters resignation to one of autonomy and direction.”
Learn more in Marketcrafting: A 21st-Century Industrial Policy ([link removed]) .
** The Stakes of Student Debt Relief
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Last month, analysis from Roosevelt and the Debt Collective showed that the case against student debt relief in Biden v. Nebraska—currently before the Supreme Court—didn’t add up ([link removed]) .
Looking at the latest data, authors Thomas Gokey, Eleni Schirmer, Braxton Brewington, and Louise Seamster find that the case is even weaker than previously understood ([link removed]) .
In a New York Times op-ed ([link removed]) , Schirmer and Seamster lay out the facts—and the stakes.
“Should the justices affirm this claim, they would effectively be confirming a fake plaintiff, false facts, and an unjust claim,” they write.
“Falsehoods about falsehoods would be a hard way to lose the debt relief the president promised to 43 million Americans and their families.”
Read more ([link removed]) .
** Jobs Day Takeaways
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** What We’re Reading and Listening to
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Industrial Transformations [by Roosevelt’s Isabel Estevez] ([link removed]) - Phenomenal World
The New Climate Law Is Working. Clean Energy Investments Are Soaring ([link removed]) . - New York Times
In Pursuit of the Climate-Proof City [podcast] ([link removed]) - The New Republic’s The Politics of Everything
Historic Gains: Low-Income Workers Scored in the COVID Economy ([link removed]) - Politico
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