Economist
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Podcast Appearances
I do not believe that one of the fundamental problems is what Secretary Lutnick is saying, that we, as a country that exports more services to the rest of the world than anybody but buys a little bit more goods, from the rest of the world than we sell to them, then that represents the core economic dysfunction of our economy.
Our economy is growing at some part growth because the government debt is too high a percentage. So myself, as one who really believes in the robustness of the private sector, the efficiencies that come from private market resource allocation, not a command control economy, I see this as a non sequitur. I'm not looking for 1600 Pennsylvania Avenue to run the economy.
Our economy is growing at some part growth because the government debt is too high a percentage. So myself, as one who really believes in the robustness of the private sector, the efficiencies that come from private market resource allocation, not a command control economy, I see this as a non sequitur. I'm not looking for 1600 Pennsylvania Avenue to run the economy.
And that includes decisions as to what types of industries you want to prop up and what industries we want to prop down. If we were to be effective, which I do not believe they will be, but if we were to be effective in bringing more domestic manufacturing to America, they can't do that without hurting services.
And that includes decisions as to what types of industries you want to prop up and what industries we want to prop down. If we were to be effective, which I do not believe they will be, but if we were to be effective in bringing more domestic manufacturing to America, they can't do that without hurting services.
And I would rather that our federal government not be in the business of picking those winners and losers.
And I would rather that our federal government not be in the business of picking those winners and losers.
My best guess is that some products are going to go up immediately. Some products will lag before they see a price increase. But that the bigger problem to the American kind of middle class economy will be declining economic growth. I'm a supply-sider, and I firmly believe that economic growth comes from the production of goods and services.
My best guess is that some products are going to go up immediately. Some products will lag before they see a price increase. But that the bigger problem to the American kind of middle class economy will be declining economic growth. I'm a supply-sider, and I firmly believe that economic growth comes from the production of goods and services.
And that innovation, that capital investment, they're going to be declining in the months ahead. That leads to downward pressure on jobs, downward pressure on wages, and downward pressure on corporate profits doesn't matter. They're going to find out the corporate profits are the mother's milk of economic growth.
And that innovation, that capital investment, they're going to be declining in the months ahead. That leads to downward pressure on jobs, downward pressure on wages, and downward pressure on corporate profits doesn't matter. They're going to find out the corporate profits are the mother's milk of economic growth.
Thank you for having me.
Thank you for having me.
I feel like in some ways in the economy, this is kind of like a kitchen remodel or a bathroom remodel. There's a bit of a mess at the beginning, but everybody has a long-term look of where we're headed.
I feel like in some ways in the economy, this is kind of like a kitchen remodel or a bathroom remodel. There's a bit of a mess at the beginning, but everybody has a long-term look of where we're headed.
You lose jobs in the manufacturing sector when you put together the higher cost of input and the retaliation, which is sure to come.
You lose jobs in the manufacturing sector when you put together the higher cost of input and the retaliation, which is sure to come.
You lose jobs in the manufacturing sector when you put together the higher cost of input and the retaliation, which is sure to come.
You lose jobs in the manufacturing sector when you put together the higher cost of inputs and the retaliation, which is sure to come like night follows day.
You lose jobs in the manufacturing sector when you put together the higher cost of inputs and the retaliation, which is sure to come like night follows day.