Donald Trump Video Clip from NBS Television
If Donald Trump wins reelection his economic policies would cause inflation to get worse. This is according to what 16 Nobel Prize-winning economists said in an open letter.
One of the main reasons for predicting a rise in inflation should there be a Donald Trump Administration 2.0 is Trump’s policies on trade with China. The former President has promised to raise the import duties on Chinese products which would cause across the board increases in the retail prices for consumers. And this would have a ripple effect across the economy.
“While each of us has different views on the particulars of various economic policies, we all agree that Joe Biden’s economic agenda is vastly superior to Donald Trump,” the economists stated in their letter. “We believe that a second Trump term would have a negative impact on the U.S.’s economic standing in the world, and a destabilizing effect on the U.S.’s domestic economy.”
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
“Many Americans are concerned about inflation, which has come down remarkably fast. There is rightly a worry that Donald Trump will reignite this inflation, with his fiscally irresponsible budgets,” they added.
It should be remembered, however, what happened when Donald Trump raised tariffs on Chinese imports when he was president. The Chinese retaliated by raising their own import duties on American goods. This forced Trump to back down and nix his tariff hikes.
Nobel Prize winning economist Joseph Stiglitz was behind the initiative. The other signatories of the letter were Nobel Prize winners George A. Akerlof (2001), Sir Angus Deaton (2015), Claudia Goldin (2023), Sir Oliver Hart (2016), Eric S. Maskin (2007), Daniel L. McFadden (2000), Paul R. Milgrom (2020), Roger B. Myerson (2007), Edmund S. Phelps (2006), Paul M. Romer (2018), Alvin E. Roth (2012), William F. Sharpe (1990), Robert J. Shiller (2013), Christopher A. Sims (2011), and Robert B. Wilson (2020).
Joseph Eugene Stiglitz is a prominent American economist, widely recognized for his contributions to the field. He won the Nobel Memorial Prize in Economic Sciences (2001) for his analysis of markets with asymmetric information and is a Distinguished professor at Columbia University. Stiglitz is a leading figure in contemporary economics, known for his theoretical contributions and real-world policy influence.
