Cover of Abundance

Abundance

by Ezra Klein


Genre
Nonfiction, Business, Science
Year
2025
Pages
304
Contents

Introduction: Beyond Scarcity

Overview

The authors imagine a 2050 daily life transformed by cheap clean energy, abundant water, new food production, and AI-driven productivity to illustrate what an “abundant” society could be. They argue America’s recent crises reflect chosen scarcities created by political and institutional barriers to building and innovation.

The introduction critiques a bipartisan split where Republicans claimed “supply side” as market-first tax cutting while Democrats subsidized demand without expanding supply, worsening affordability in housing, health, and education. The chapter closes by calling for “a liberalism that builds” and defining abundance as enough of the essentials—housing, transportation, energy, health—made possible by stronger state capacity and technological progress.

Summary

The introduction opens with a speculative day in 2050 to depict what “abundance” could feel like: ultra-cheap clean energy from solar, wind, nuclear, and geothermal; desalinated water easing drought pressures; vertical farms and cultivated meat freeing land for rewilding; AI-driven productivity shortening the workweek; and new medicines manufactured in space and delivered cheaply.

From that future, the authors pivot to the early twenty-first century’s overlapping crises—housing, finance, pandemic, climate, and political instability—and argue that many hardships persisted not because solutions were unknown, but because the United States repeatedly chose not to build and not to invent at the needed scale. The book’s thesis is framed bluntly: to get the future people want, society must produce more of what it needs.

The authors then diagnose a political “supply-side mistake”: Republicans claimed the supply side through tax cuts and deregulation, while Democrats focused on subsidizing demand (vouchers, credits, and insurance subsidies) without sufficiently increasing the supply of homes, doctors, infrastructure, and breakthroughs. When demand is boosted in the face of constrained supply, prices rise and rationing worsens, producing the affordability crises seen in housing, health care, education, and child care—temporarily masked by cheap consumer goods, asset booms, and debt.

COVID-era stimulus is presented as a turning point that exposed supply constraints through inflation and shortages, pushing policymakers back toward production capacity (chips, ports, medicines, housing, energy). The authors argue economic growth is not simply “more pie,” but faster change driven by productivity and new technologies; without visible physical-world progress, politics curdles into nostalgia and zero-sum conflict.

Finally, the authors call for “a liberalism that builds,” focusing on failures in liberal-governed places such as California as both a governance problem and a political vulnerability that feeds populism. They define abundance as having enough housing, transportation, energy, and health capacity to enable better lives, and set the book’s agenda: rebuild state capacity to build and invent rather than merely redistribute what already exists.

Who Appears

  • Narrator (the authors)
    Argue scarcity is chosen; advocate building, invention, and stronger government capacity for abundance.
  • Joe Biden
    Quoted to frame inflation’s supply-versus-demand choice: make more cars or reduce demand.
  • Donald Trump
    Cited as beneficiary of voter backlash in blue areas exposed to ineffective liberal governance.
  • Ronald Reagan
    Represents the era that popularized anti-government, market-first supply-side politics.
  • Jimmy Carter
    Quoted as a Democratic voice echoing skepticism that government can solve problems.
  • Bill Clinton
    Quoted declaring “the era of big government is over,” illustrating bipartisan retreat from capacity.
  • Arthur Laffer
    Referenced for the Laffer Curve and the partisan branding of “supply side” economics.
  • George H. W. Bush
    Cited for labeling revenue-boosting tax cuts “voodoo economics.”
  • Aaron Bastani
    Author of a techno-utopian vision used to argue for imagining and building a better future.
  • Neil Postman
    Quoted to emphasize technologies embed values and drive social change, not neutrality.
  • David M. Potter
    Provides a definition of abundance as dynamic interplay between society and nature.
  • Lizabeth Cohen
    Referenced for the idea of a “Consumers’ Republic,” critiqued as misaligned with essential needs.
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