Trump May Actually Be On To Something When It Comes to the Economy
A recent Wall Street Journal article tells us that economists who have advised previous President's do not support Donald Trump.
Those economists need to explain why that superior knowledge and understanding of matters economic by past Presidents has led to such poor results for many Americans. Some of us - and it's not an insignificant "some" - aren't doing all that well, haven't been doing all that well for a long time. All those economists who've advised all those Presidents represent "business as usual," a status quo that finds too many on the wrong end of the economic stick. The Trump phenomenon sprang from the belief that the status quo must change.
So maybe Trump is on to something when it comes to the economy by failing to garner the praised of those who've shoveled all that great advice that's left many of us poorer.
Republican presidential nominee Donald Trump, who has broken with many of the GOP’s traditional positions on economic policy, garners no support from any of the White House economists who have advised U.S. presidents for the past half-century.And many are not afraid to stand up and be counted against Trump. Here's one:
“I have Republican friends who think that things couldn’t be worse than doubling down on Obama policies under Hillary Clinton. And, like them, I am no fan of the left’s agenda of large government and high taxes,” Mr. Mankiw wrote. “But they are wrong: Things could be worse. And I fear they would be under Mr. Trump.”Given the esteemed crew that's been polled here, you might interpret this to mean that Trump would be bad for the economy were he elected. That is until you consider where all their brilliant advice has gotten us. Consider that the real inflation-adjusted earnings for the median male have decreased 19% (“The Uncomfortable Truth About American Wages,” N.Y. TIMES website, 22 Oct 2012), and average real earnings of all workers have fallen to the level of 1964 (“This is Why Wages Haven’t Increased in 50 years,” YAHOO FINANCE website, 18 July 16.)
Those economists need to explain why that superior knowledge and understanding of matters economic by past Presidents has led to such poor results for many Americans. Some of us - and it's not an insignificant "some" - aren't doing all that well, haven't been doing all that well for a long time. All those economists who've advised all those Presidents represent "business as usual," a status quo that finds too many on the wrong end of the economic stick. The Trump phenomenon sprang from the belief that the status quo must change.
So maybe Trump is on to something when it comes to the economy by failing to garner the praised of those who've shoveled all that great advice that's left many of us poorer.
Comments