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1 month ago | 
theatlantic.com | Roge Karma
In 2019, Lawrence Summers and Jason Furman, two of America’s most influential economists, published an essay titled “Who’s Afraid of Budget Deficits?” In it, they argued that Washington’s long-standing worries about the national debt had been overblown. Other prominent experts, including the former head economist of the International Monetary Fund, an institution known for imposing harsh fiscal austerity on developing countries, came to similar conclusions.
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1 month ago | 
theatlantic.com | Roge Karma
For a moment, Donald Trump finally seemed to be on the verge of real economic populism. The president announced last week that his administration would be instituting a “most favored nation” policy that would peg drug costs in the United States to the much lower prices paid in other developed countries. “Some prescription-drug and pharmaceutical prices will be reduced almost immediately by 50 to 80 to 90 percent,” he declared. Robert F.
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1 month ago | 
businessandamerica.com | Roge Karma
Donald Trump’s 2016 victory inspired a revolution in economic thinking among Democrats. His 2024 restoration now threatens to kill off that revolution for good. Source link
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1 month ago | 
businessandamerica.com | Roge Karma
This article was featured in the One Story to Read Today newsletter. Sign up for it here. Donald Trump’s 2016 victory inspired a revolution in economic thinking among Democrats. His 2024 restoration now threatens to kill off that revolution for good. Following the 2016 election, a large share of the American left-of-center concluded that Trump’s victory could be blamed, at least in part, on half a century of “neoliberal” economic policy that was too deferential to free markets.
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1 month ago | 
theatlantic.com | Roge Karma
Donald Trump’s 2016 victory inspired a revolution in economic thinking among Democrats. His 2024 restoration now threatens to kill off that revolution for good. Following the 2016 election, a large share of the American left-of-center concluded that Trump’s victory could be blamed, at least in part, on half a century of “neoliberal” economic policy that was too deferential to free markets.
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1 month ago | 
theatlantic.com | Roge Karma
Lori Wallach was into tariffs before they were cool, and she was still into them when they became uncool again. She cut her teeth fighting alongside labor unions and environmental groups against NAFTA in the 1990s. For more than 30 years, she has been trying to convince Democrats to be more skeptical of free trade. She spent most of that time in the political wilderness, waging one losing battle after another against a powerful bipartisan free-trade consensus. Then the winds began to shift.
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1 month ago | 
theatlantic.com | Roge Karma
To the extent that Donald Trump’s trade war with China is based on a coherent story about the world, it is this: Free trade with China has been a disaster for the American worker, and we need tariffs to reverse the damage. No one knows more about that story than the MIT economist David Autor. In 2016, he co-wrote a paper with David Dorn and Gordon H. Hanson that challenged the economics profession’s rapturous view of free trade.
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1 month ago | 
flipboard.com | Roge Karma
4 hours ago77 million Americans voted for Trump. After 100 days, few of them regret it. | OpinionPresident Donald Trump is delivering on what he said he would do, and, for the most part, his voters appreciate it. I realize this may blow Democrats' minds, but 100 days into President Donald Trump’s second term, most of the millions of Americans who cast their vote for him are still happy they did.
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2 months ago | 
theatlantic.com | Roge Karma
Listen1.0x0:0012:10Produced by ElevenLabs and News Over Audio (Noa) using AI narration. Listen to more stories on the Noa app. If Donald Trump were trying to lose his trade war with China, it’s hard to see what he would be doing differently. The president’s gambit is likely to strengthen China’s geopolitical position, embolden Beijing militarily, and diminish both the United States’ global standing and its economy. Earlier this month, Trump increased tariffs on all goods from China to 145 percent.
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2 months ago | 
theatlantic.com | Roge Karma
Nothing here has ended well. In fact, it hasn’t even ended. Produced by ElevenLabs and News Over Audio (Noa) using AI narration. Listen to more stories on the Noa app. The era of massive global tariffs lasted approximately 13 hours. After half a day of chaos in the bond market, Donald Trump announced that he was pausing his “reciprocal” tariffs on all countries besides China for 90 days.
