23 Nobel laureates can't be wrong about Trump
Business Standard|November 02, 2024
Economists mostly shun politics in favor of policy. We prefer to be aloof soothsayers giving voice to data and research rather than our own beliefs. A luminary in the profession once told me that "the only political party economists support is whichever is willing to be smart," before adding, "and a smart economist would never join a political party."
KATHRYN ANNE EDWARDS

And yet, in a stunning turn—at least for us in the profession—23 Nobel Prize-winning economists, from Columbia University professor Joseph Stiglitz to Massachusetts Institute of Technology's Daron Acemoglu, released a letter endorsing Kamala Harris for US president.

"Simply put, Harris's policies will result in a stronger economic performance, with economic growth that is more robust, more sustainable, and more equitable," the Nobel laureates wrote in the letter. Donald Trump's policies, they added, would "lead to higher prices, larger deficits, and greater inequality."

As for Ms. Harris, they wrote that she "has emphasized policies that strengthen the middle class, enhance competition, and promote entrepreneurship."

Individuals can struggle to sort out the nuance of their own economic experience over the past eight years in weighing Ms. Harris versus Mr. Trump, but professional economists of all stripes have little to be torn about. It's not a toss-up: Mr. Trump's policy agenda gives much for economists to condemn. Any one of these policies on their own would be enough to disqualify a candidate, but that Mr. Trump has proposed them all is a clear enough indicator of just how much the economy would be at risk if he were reelected.

Diese Geschichte stammt aus der November 02, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der November 02, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS STANDARDAlle anzeigen
The shift fuelling country's growth engine
Business Standard

The shift fuelling country's growth engine

India aims to be developed by 2047 and net-zero by 2070, requiring a transformative energy transition to achieve these goals

time-read
7 Minuten  |
December 28, 2024
₹ weakens below 85.8 intraday, RBI does rescue act
Business Standard

₹ weakens below 85.8 intraday, RBI does rescue act

Still settles below 85.5 amid strong dollar demand

time-read
2 Minuten  |
December 28, 2024
IndiGo stock takes off on rating upgrade
Business Standard

IndiGo stock takes off on rating upgrade

Elara Capital gives 'buy' rating after IndiGo's highest-ever traffic in November

time-read
3 Minuten  |
December 27, 2024
Business Standard

Wait for NAV, price on exchange to converge before investing

Indian investors seeking to diversify their portfolios through overseas exchange-traded funds (ETFs) are paying a premium.

time-read
2 Minuten  |
December 27, 2024
Business Standard

Multiple triggers for Vedanta stock

Vedanta’s stock is experiencing multiple positive triggers, primarily driven by favorable aluminium and zinc price trends. The company's demerger plans, while modified, are expected to unlock value and improve capital allocation. Key projects coming online in the next 12-18 months, including alumina refinery expansion and captive mines, are poised to significantly boost earnings.

time-read
2 Minuten  |
December 27, 2024
Markets settle flat in muted trade
Business Standard

Markets settle flat in muted trade

Benchmark indices Sensex and Nifty ended flat in listless trading on Thursday amid a lack of near-term triggers and unabated foreign fund outflows.

time-read
1 min  |
December 27, 2024
Business Standard

India Third-Best Performing Major Market in 2024

The domestic market capitalization has soared 18.4 percent to $5.18 trillion in 2024, adding $806 billion.

time-read
1 min  |
December 27, 2024
Business Standard

MP High Court stays Burmans' Religare open offer

In a strange turn of events, the Madhya Pradesh High Court's Jabalpur Bench has stayed the Burman family's open offer to acquire an additional 26 per cent stake in Religare Enterprises, and the company's annual general body meeting.

time-read
1 min  |
December 27, 2024
IPO Mopup Likely to Top ₹2 Trillion Mark Next Year
Business Standard

IPO Mopup Likely to Top ₹2 Trillion Mark Next Year

Fund mobilisation through initial public offerings (IPOs) will continue to rise in 2025 and the total amount is expected to breach the ₹2 trillion mark, investment banking firm Pantomath Group estimates.

time-read
1 min  |
December 27, 2024
Derivatives volume drops 37%
Business Standard

Derivatives volume drops 37%

Stricter trading norms help cool off speculative activity in December so far

time-read
2 Minuten  |
December 27, 2024