Bidenomics: the economic model on which the US president will seek re-election

Joe Biden proclaims regularly that he is a capitalist but argues the problem with trickle-down economics is that it just does not work. Photograph: Al Drago/The New York Times Having started out as a term in the financial press, the White House this week specifically embraced "Bidenomics" as a description of its overall economic agenda as it heads towards the presidential election next year. The Biden administration has been on the back foot on the economy for some time. Opposition Republicans have sought to exploit politically the high inflation that ordinary Americans can see reflected in the prices in shops…