“The US economy is currently near perfect.” So wrote the economist Jennifer Harris—“the quiet intellectual force behind the Biden administration’s economic policies,” according to the New York Times —in a tweet posted in mid-July. The tweet has since been deleted, but Harris’s view was hardly idiosyncratic at the time. In the months before Trump’s victory, not just elected Democrats but countless wonks and columnists were celebrating the Biden Administration’s macroeconomic successes: sustained low unemployment, strong GDP growth, falling inflation, and rising wages. This is the stuff of economists’ dreams—and as close to fulfilling labor’s long-held hope of full employment as the country has come in nearly half a century. Under contemporary US capitalism, this is about as good as it gets. Around the same time that Harris was celebrating the economy, a heated exchange broke out in Congress.…