Current Issue

The Economic Consequences of Mr. Trump
Volume 13, Issue 2, December 2018

Misused Theories Behind Trump’s Economic Policies
By Edmund Phelps

The fundamental economic problem in America and most of Europe, too, is the Great Western Slowdown. This fifty-year decline is not addressed by our politicians—least of all by President Trump.
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The $600 Billion Increase in the U.S. Trade Deficit Since 1980 Has Led to the Loss of Three Million U.S. Manufacturing Jobs
By Robert Z. Aliber

How much of the decline in U.S. manufacturing jobs in the last few decades can be attributed to the increase in the U.S. trade deficit?
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The Dangers of Trump’s Unilateralist International Economic Policies
By Jeffrey Sachs

Trump’s international economic policies aim to preserve America’s primacy in the face of China’s surging economic development. His zero-sum vision and the resulting U.S. policies threaten to undermine the global economy.
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Are Trump’s Trade Policies Fit for Purpose?
By Barry Eichengreen

The author asks whether President Donald Trump’s tariffs are fit for purpose: that is, whether they are appropriately designed to advance his goals. Eichengreen's answer is negative.
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The 2017 Tax Law: A Boost to Growth or a Missed Opportunity?
By Jason Furman

This paper summarizes and extends a previous analysis of the 2017 tax law, which dramatically reduced the corporate income tax rate, and proposes areas for genuine tax reform. 
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How Economists Should Respond to Trumpian Disdain for Experts
By Roman Frydman

Models economists consider acceptable, particularly regarding the precision with which we can know the future, create obstacles amid Trump's disdain for experts. This becomes clear when analyzing the 2017 tax overhaul.
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Trump and the Environment
By Geoffrey Heal

The environmental policies of the Trump administration, from a historical perspective, represent a return to the intellectual framework of the 19th century and a neglect of important developments in economics in the 20th century.
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