JD Vance's economic philosophy generally favors industrial policy and protectionist measures aimed at revitalizing American manufacturing and supporting the working class.
He is a vocal critic of the globalist economy and its effects on domestic jobs and communities, as evidenced by his early career shift from corporate law and venture capital back to Ohio.
As Vice President, Vance continues to articulate these views, framing economic policy around national interest, which includes lamenting the US's reliance on foreign manufacturing and debt.
Context
JD Vance's background as a venture capitalist and his bestselling memoir, Hillbilly Elegy, shaped his focus on the economic plight of the post-industrial Midwest and Appalachia.
His time in Silicon Valley reportedly exposed him to what he perceived as elite disdain for working-class Americans, fueling his transition toward a more populist economic critique and focus on 'geoeconomics'.
His professional affiliations, such as investing in Rumble and advocating for AppHarvest, reflect an interest in building alternative or regionally focused economic structures.
Actions Taken
- Investment CareerVance was a principal at Mithril Capital, a venture capital firm, between 2016 and 2017, and co-founded Narya Capital in 2019.
- Investment CareerVance joined Revolution LLC, focusing on growing investments in underserved regions outside major tech hubs.
- Corporate BoardVance was on the board of directors for AppHarvest, a startup focused on indoor vertical farming in Appalachia, which he touted for bringing jobs to the region before it went bankrupt.
- Voting RecordVance voted against raising the debt ceiling via the Fiscal Responsibility Act of 2023, stating it would lead to a reduced military amid threats from China.
Key Quotes
The globalist economy has caused the United States to borrow money from Chinese peasants to buy the things those Chinese peasants manufacture.
We need to be investing in the real economy, the productive economy, the places that make things.
Criticism
Alleged that Vance has 'changed [his] opinion on literally every imaginable issue that affects everyday Americans' in pursuit of 'political power and wealth.'
Claimed Vance's non-profit, Our Ohio Renewal, was a front for political ambitions rather than effective charitable work.
Sources4
- Vance lamented that the "globalist economy" had caused the United States to "borrow money from Chinese peasants to buy the things those Chinese peasants manufacture".
- In 2019, Vance co-founded venture capital firm Narya Capital in Cincinnati with financial backing from Thiel, Eric Schmidt, and Marc Andreessen.
- Vance voted against raising the debt ceiling, standing against final passage of the Fiscal Responsibility Act of 2023 and saying it would result in "a reduced military in the face of a rising threat from China".
- After Vance's appearance on Tucker Carlson Tonight, Vance's campaign referred to "radical childless leaders in this country" in a fundraising email.
* This is not an exhaustive list of sources.