You might want to read the piece at Project Syndicate by Nobel memorial award-winning economist Michael Spence. Here’s his conclusion:
In the next few months, we will learn more about whether the recent uptick in economic optimism is robust; whether Trump’s efforts to fight offshoring and boost growth and employment have a long-term impact; and whether protectionism prevails. Only then can we determine whether Trump really was the right economic choice for America’s disaffected workers.
The “certainties” he notes are:
- Expectations matter
- Nominal growth in the U. S. will rise
- Pressure on U. S. companies to maintain their reputations
- Continued development in digital technology
Beyond there lie dragons.
“Pressure on U. S. companies to maintain their reputations” — I was listening to a corporate P.R. consultant, who explained that corporations don’t like publicity and their natural inclinations are to hide or capitulate because they feel like business cannot win in the court of public opinion. I think that’s right, but might have said that most businesses see themselves as making money in whatever business they are in and that’s where they want to invest their time and money. I’m not sure I saw that I saw Trump going all Teddy Roosevelt, but he appears to be a fan of the bully tweet.
“Bully tweet”. Nice one PD!