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Arthur: Part of it is because we have a rigid system of power, and so we’re ridiculously institutionalized in the way that people can rise and prosper

Americans speak a good line about meritocracy, but we don’t have a meritocracy. When it comes to our politics, we have a gerontocracy that is based on seniority, loyalty, and tenure. We have leaders with tons of wisdom, but they don’t have the vigor and the focus and the energy to be putting in the grinding work of national and international governance.

Matt: Happiness is your principal subject, and your work usually frames it in terms of advice to the individual: How can you be happy? How can I be happy? But in this political moment, there’s also a dimension of this that’s about collective happiness, the public good—a general happiness that is at stake in Biden’s decision. How do you balance that?

Arthur: You know the famous Zen Buddhist koan: What is the sound of one hand clapping? One interpretation of that koan is that the sound of one hand clapping is an illusion. And one version of that illusion is that your personal happiness is somehow meaningful. In fact, the clapping becomes a reality only when there’s a second hand.

In other words, your happiness is real only when somebody else is happy as well. So if you’re a public figure, then the good of the public is required to get the second hand clapping. Otherwise you’ll be living in illusion.

a philosopher at the University of Cambridge named Stephen Cave who wrote a really important book called Immortality. In it, he talks about how one of the ways to become immortal is to build a legacy, and the way to think about that is the internal struggle of Achilles. Obviously, the Greek hero is a mythological character, but his story presents an emblematic dilemma: The best way to achieve immortality is to secure your legacy through a heroic end; the worst way to get immortality—and the most efficacious way to destroy your legacy—is to just hang around. Do you see the irony? People who hang around because of their legacy are diminishing their legacy.

Arthur: So there’s personal advice and there’s political advice. The personal advice is that for all successful people, there comes a time to decide between being special and being happy. Being special—staying on top—is hard, tiring work. But it is an addiction, which is why people keep at it way beyond what seems reasonable, at great harm to themselves and others. Get sober; choose happiness.

The political advice is based on a lesson from history, that the mark of great leadership is what happens after leaders leave the scene. Did they teach the next generation and set up those who came after for success? And then did they step aside with grace and humility? Be able to answer yes to both of those questions.

As a young State Department policy planner in the 2000s, she was a lonely voice in Washington raising the alarm about the rise of China. She pushed for tariffs and against trade agreements before it was cool, and was an author of a book called “War by Other Means” about how blind faith in free markets put the United States at a geopolitical disadvantage. For years, she felt like an oddball in Washington, where both parties were still in thrall to neoliberalism.

The Hewlett Foundation hired her as the head of an initiative that has given away $140 million so far to people who are devising a new economic philosophy. Then she served a stint in the White House. Today, she’s an intellectual leader of a growing, bipartisan consensus

She fell in love with economics and studied it at Wake Forest. After she joined a student delegation to a NATO summit in Prague in 2002, a faculty adviser on that trip offered her a job in Washington working at the National Intelligence Council. In those early years, she believed what everyone else in Washington believed about the economy — that governments ought not meddle with it.

if Mr. Trump correctly identified a problem — “China is eating our lunch” — he did not solve it, beyond putting tariffs on Chinese products. His tax cut for the rich hurt rather than helped matters.

It’s the Biden administration that came in with a plan to build an economy that was good for workers, not just shareholders, using some strategies Ms. Harris had been talking about for years.

The thinking behind it goes like this: Unquestioning belief in the free market created a globalism that funneled money to the 1 percent, which has used its wealth to amass political power at the expense of everyone else. It produced free trade agreements that sent too many U.S. factories to China and rescue plans after the 2008 financial crisis that bailed out Wall Street instead of Main Street.

It was her job to track China’s use of subsidies, industrial espionage and currency manipulation to fuel its rise as a manufacturing powerhouse. Ms. Harris argued that tariffs on China were a necessary defense. Nobody agreed. “I was kind of just banging my head against this wall,” she told me. “The wall was a foreign policy establishment that saw markets as sacrosanct.”

Barack Obama campaigned on a pledge to renegotiate NAFTA, but he struck up a new trade deal instead — the Trans-Pacific Partnership. Ms. Harris argued against it. “We didn’t have the foggiest idea” of what it would do to our economy, she told me. Nobody listened.

it sent Democrats back to the intellectual drawing board. Larry Kramer, then the president of the Hewlett Foundation, recruited her in 2018 to promote alternatives to ideas that had guided U.S. policy for decades. He hoped she could do for free-market skepticism what Milton Friedman and his allies had done for free-market fundamentalism, which became policy under the Reagan administration and eventually was embraced by both parties as truth.

She has since rejoined the Hewlett Foundation, where she funds people who are proposing new solutions to economic problems. One grantee, the conservative think tank American Compass, promotes the idea of a domestic development bank to fund infrastructure — an idea with bipartisan appeal.

But the work that Ms. Harris and others in the Biden administration have done is unfinished, and poorly understood. The terms “Bidenomics” and “Build Back Better” don’t seem to resonate

Ms. Harris acknowledges that these ideas haven’t yet taken hold in the broader electorate, and that high interest rates overshadow the progress that’s been made. It’s too early for voters to feel it, she told me: “The investments Biden has pushed through aren’t going to be felt in a month, a year, two years.”

she celebrates the fact that leaders across the political spectrum are embracing the idea that Americans need to “get back to building things in this country.” This election has no candidates blindly promoting the free market. The last one didn’t either. In the battle of ideas, she has already won.