Facebook Pixel 23 Nobel laureates can't be wrong about Trump | Business Standard - newspaper - Read this story on Magzter.com

Try GOLD - Free

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.

MORE STORIES FROM Business Standard

Business Standard

Advance-decline ratio highest since June 2020

A broad based recovery in equities last month pushed the advance-decline ratio (ADR) — a key measure of market breadth — to 1.54 in April, the highest since June 2020.

time to read

1 min

May 04, 2026

Business Standard

Pvt banks expect retail credit pickup in FY27

Corporate, MSME lending strong in Q4FY26

time to read

2 mins

May 04, 2026

Business Standard

Decline in India competition to help Unilever’s volume growth: CEO

Disruptions in the global supply chain and a surge in packaging costs amid rising crude oil prices have led to a decline in local competition in markets like India, Unilever’s Chief Executive Officer Fernando Fernandez said during an earn-

time to read

1 min

May 04, 2026

Business Standard

A high-wire diplomacy month

ARCHIS MOHAN

time to read

1 mins

May 04, 2026

Business Standard

Iran sends new proposal to US; Trump warns of strikes

Tehran’s 14-point plan calls for an end to the war and not just an extension of truce

time to read

2 mins

May 04, 2026

Business Standard

Business Standard

Sub-par monsoon not necessarily a crisis: Ramesh Chand

With the 2026 southwest monsoon predicted to be below normal, former NITI Aayog member and noted agricultural economist Ramesh Chand says India is better prepared to handle rainfall variability than in the past. In an interaction with Business Standard as part of the “Business Standard Dialogue” webinar series, Chand spoke of monsoon forecasts, agricultural resilience, drought-proofing, and inflation risks. Edited excerpts:

time to read

3 mins

May 04, 2026

Business Standard

Time for punters to exit, long-term investors should buy on dips

Those entering now should stagger their investments and have at least a five-year horizon

time to read

4 mins

May 04, 2026

Business Standard

Trouble in fertiliser sector amid West Asia crisis

Finance Minister Nirmala Sitharaman recently hinted that the government intended to keep fertiliser prices unchanged despite rising global rates.

time to read

1 min

May 04, 2026

Business Standard

GalaxEye puts world-first OptoSAR satellite into orbit

Mission Drishti to capture imagery in all weather conditions, day and night

time to read

2 mins

May 04, 2026

Business Standard

WhiteBoard Financial to launch $100 mn urban assets AIF

WhiteBoard Financial Advisors and Management plans to launch its second alternative investment fund (AIF), an urban assets fund with an initial corpus of $100 million and a greenshoe option of another $100 million, as it looks to widen its play beyond residential real estate into new age and alternative asset classes.

time to read

1 min

May 04, 2026

Listen

Translate

Share

-
+

Change font size