• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

U.S. Treasury is paying $3 billion a day in interest on national debt, says the CBO—having spent $10 billion to prop up the currency of its top lender

2

Steve and Connie Ballmer are splitting their $8 billion philanthropy into three so the people closest to the work can decide how the money is spent

3

Google cofounder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

1

U.S. Treasury is paying $3 billion a day in interest on national debt, says the CBO—having spent $10 billion to prop up the currency of its top lender

2

Steve and Connie Ballmer are splitting their $8 billion philanthropy into three so the people closest to the work can decide how the money is spent

3

Google cofounder Sergey Brin has now spent $100 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses
CommentaryEconomy

The narrative of Bidenomics isn’t sticking because it doesn’t reflect Americans’ lived experiences

By
Deepak Bhargava
Deepak Bhargava
and
Stephanie Luce
Stephanie Luce
Down Arrow Button Icon
By
Deepak Bhargava
Deepak Bhargava
and
Stephanie Luce
Stephanie Luce
Down Arrow Button Icon
January 8, 2024, 1:13 PM ET
President Joe Biden speaks during his first campaign event of the 2024 election season in Pennsylvania on Jan. 5.
President Joe Biden speaks during his first campaign event of the 2024 election season in Pennsylvania on Jan. 5.Drew Angerer—Getty Images
Add Fortune on Google for similar content.

Political pundits are scratching their heads trying to figure out why so many people report that they are feeling economic hardship at a time when many of the standard economic measures are strong. By most traditional accounts, the U.S. economy is in excellent shape. But the average American’s confidence in the economy has been plunging to numbers not seen since 2008.

Our research on organizing to advance big, transformative change teaches us two insights.

First, we need to help people make sense of their world, not tell them what to think. That means listening closely to people’s experiences. If they’re afraid they can’t pay their bills, we need to help them make sense of that lived reality. That starts by taking that lived reality seriously, not just telling people things are fine.

When we listen to people, it becomes clear that aggregate statistics no longer reflect the reality most people live in. Unemployment may be low, but if you can only find work at low wages and irregular hours, things aren’t fine. Inflation may be dropping, but if your paycheck no longer covers your rent (the way we measure inflation doesn’t adequately capture housing costs), things aren’t fine. If you’re two percent better off than last year, but you were on the edge of disaster last year, things aren’t fine.

We need to talk about that reality–economic inequality, corporate power, and economic insecurity.

Second, extreme inequality and massive corporate power have led to a crisis. In times of rupture, when old systems are dying out or becoming unstable, we can’t rely on business as usual. We cannot rely on policymaking as the sole or even the main lever for change. For instance, raising minimum wages has helped a lot of people with their monthly bills–but without a union, employers can still cut your work hours, discipline you, or fire you unfairly. The Child Tax Credit had a huge impact on reducing child poverty–but as many low-income parents suspected, it was only a matter of time before it was taken away. 

Corporations have more power today than they’ve had for over 100 years–or perhaps ever, given the amount of wealth and resources they control. The rules of the game are still skewed in their favor. They’ve raised the prices of our basic goods because they can. They’ve limited our housing supply because they can. They’ve refused to comply with basic employment laws because they don’t have to.

Winning real improvements that help working people requires disrupting corporate power. Strategic disruption is the “power to wound,” stopping those with enormous power from unchecked use of their influence. We need to be changing the rules of the game so that corporations don’t have the power to increase profits at the expense of people and the planet or influence politicians to do their bidding.

Working people can take actions such as strikes or boycotts to upset the status quo. But importantly, the gains must then be institutionalized in ways that permanently redistribute power towards workers, consumers, and the environment. Wins can be institutionalized by winning collective bargaining agreements, changing laws, or enforcing existing laws. 

There are key examples of progress. In 2023, the United Auto Workers (UAW) showed how when workers take disruptive, surprising action together, they can win massive gains. The Inflation Reduction Act included new changes to tax law and the ability to enforce them. New rulings at the National Labor Relations Board will make corporations more likely to abide by labor law, at least somewhat. But we need more than a collection of technical fixes.

It’s time to disrupt corporate power and to help people make collective sense of why they continue to suffer.

Deepak Bhargava and Stephanie Luce are the co-authors of the just-published book, Practical Radicals: Seven Strategies to Change the World.

More must-read commentary published by Fortune:

  • Economic pessimists’ bet on a 2023 recession failed. Why are they doubling down in 2024?
  • COVID-19 v. Flu: A ‘much more serious threat,’ new study into long-term risks concludes
  • Access to modern stoves could be a game-changer for Africa’s economic development–and help cut the equivalent of the carbon dioxide emitted by the world’s planes and ships
  • ‘Parroting Putin’s propaganda’: The business exodus over Ukraine was no Russian bonanza

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.

Fortune Daily breaks the traditional barrier between audience and newsroom. The show transforms Fortune’s trusted reporting into actionable, conversational, and entertaining insights for an emerging class of business leaders. Watch here.
About the Authors
By Deepak Bhargava
See full bioRight Arrow Button Icon
By Stephanie Luce
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.