The important thing about Trump is that he is a businessman with experience in how things work in the real world; he's not an ideologue. He understands and appreciates the power of incentives, and he is distrustful of the power of government to accomplish good things. It's very encouraging that he understands the growth-damaging effects of regulations. He won't always do things "correctly," but he's likely to get good results.
My main concern with Trump is that he fails to understand the benefits of free trade, and his trade advisor, Peter Navarro, is exceptionally clueless in that regard. Whether the two of them can persuade a more trade-savvy Congress to impose punitive tariffs on imports is not clear, however. I'm hoping that their bark ends up being worse than their bite, and practical considerations trump rhetoric in the end. We don't need balanced trade (e.g., no trade deficits), but what we do need is freer trade. For that matter, the economy desperately needs less regulation, not more.
Copiado de Calafia Beach Pundit.
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