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The Economist Whose Contrarian Streak Has Gotten Attention in Biden and Trump Camps
Tags: Current Focus, Renewal America, Early Warning, Managing Business, United States, Capital Markets, The Economy, Inequality / Upward Mobility, Movement for Renewal of America, 3. Income and Wages Fairness, 5. Bringing Jobs and Factories to the US, 6. Capital Allocation for Infrastructure, Goods and Services, 7. Democracy Support Action, 8. U.S. Investment by Government+ Private, 10. Health- Body/Mind Wellbeing for All ,
It is not that this or that economic thinking is right, what is right is scientific observation of how "We the People" perform under different economic foundations and coming up with what works without ideology. This report writes about Pettis and Lighthizer, who have made observations and economic advice about reindustrialization through judicious use of tariffs.
The difference between Biden/Harris/ Walz and Trump/Vance in 2024 is that Biden has already put in place a massive infrastructure and American manufacturing plan with government assistance to industry where nothing comparable except tariffs was done in the four years of the Trump administration. Biden/Harris plan to use tariffs selectively to promote reindustrialization while also giving other countries and competitors opportunities to compete- a win-win for the World Economy. The former president's blanket tariffs on all products without direct financial support to American manufacturing and consumers is thus not based on a combination of scientific observation and common sense as reindustrialization requires a calibrated common sense approach to the situation the US faces.
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