https://prospect.org/economy/2024-11-26-abundance-agenda-neoliberalisms-rebrand/
The past few years have seen a widespread move away from free-market dogma, as policymakers search for new economic perspectives. The election of Joe Biden in 2020 proved to be a crossroads for economic orthodoxy. For the first time in more than a quarter-century, a Democratic administration did not entrust its economic policy exclusively to adherents of Robert Rubins philosophy, for whom the solution to any economic issue was usually Be less of a Democrat.
Instead, the Biden-Harris administration trusted progressives as a coalition partner, rather than an electoral faction that had to be dealt with, not worked with. The Biden administration attempted true industrial policy for the first time in over a generation, rekindled enforcement of the Sherman Antitrust Act, and didnt shy away from stimulating the economy when it was foundering. And while Bidens term has been a rousing success on most macroeconomic measuresthe electoral loss turned in part on global inflation and the
rollback of the temporary pandemic safety netprogressives increasing power within Democratic politics has
caused some moderates to become enraged that theyre now expected to settle for the position of senior partner, and denied near-total control.
Enter the abundance agenda, an attempt to generate new messaging for a new political era in which neoliberalism has fallen rapidly out of favor. The term has been floating around for years, but has more recently become a rallying cry for a whole array of deregulatory causes. The abundance agenda has also offered shelter to effective altruists, who have been searching for a flag to rally around that isnt associated with
one of the largest frauds in world history. The Biden administration has started to usher in a post-neoliberalism, with more heterodox ideas competing for acceptance. Abundance is neoliberalism repackaged for a post-neoliberal world.
What exactly abundance adherents believe varies, of course, but there are a number of broad precepts: building more housing, producing more energy, and fostering more technological innovation. None of these are objectionable goals; the differences with progressives arise, largely, in how to get there. Abundance starts from a growth above all mindset. The agendas advocates hate residential zoning lawswhich, contrary to what they frequently imply, is something they have in common with us and most progressivesbut also detest the National Environmental Policy Act, support fracking, oppose tenant protections, and are often deferential to the policy preferences of Big Tech.
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