Trump’s actions suggest that his administration’s economic interventionism will go beyond traditional protectionism. Trump has already shown his willingness to target firms’ foreign operations with the threat of import levies, public accusations of price gouging and immigration restrictions (which make it harder to attract talent).
The Nobel laureate economist Edmund S Phelps has described Trump’s direct interference in the corporate sector as reminiscent of corporatist Nazi Germany and fascist Italy. Indeed, if Barack Obama had treated the corporate sector in the way that Trump has, he would have been smeared as a communist; but for some reason when Trump does it, corporate America puts its tail between its legs.
Friday, February 03, 2017
Roubini on Trump
Seems to me that Roubini's thoughts on the longer term economic effects of Trumpism are reasonable. I liked this part, in particular: