Tag Archives: 2016 Election

On his blog, Dani Rodrik comments on NAFTA’s implications for US manufacturing and jobs. So here is the overall picture that these academic studies paint for the U.S.: NAFTA produced large changes in trade volumes, tiny efficiency gains overall, and some very significant impacts on adversely affected communities. … Mexico has been one of Latin America’s underperformers. So is Trump deluded on NAFTA’s overall impact on manufacturing jobs? Absolutely, yes. Was he able to capitalize on the...

In the Washington Post, James Hohmann reports that U.S. President-elect Donald Trump and his candidate for secretary of state, Rex Tillerson, share an affection for Ayn Rand’s “objectivist” philosophy. Trump identifies with Howard Roark, the main character in [Rand’s] “The Fountainhead” while Tillerson prefers “Atlas Shrugged” which I reviewed here. Other prospective members of the new administration also hold objectivist views while Stephen Bannon rejects “unenlightened capitalism” a la...

In the NZZ, Thomas Fuster and Jürg Müller interview David Autor. Autor on polarization: Der Arbeitsmarkt wird immer polarisierter. Auf der einen Seite haben wir viele gutbezahlte, hochqualifizierte und interessante Stellen. Auf der anderen Seite stehen schlechter entlöhnte und niedrigqualifizierte Stellen, bei denen es quasi darum geht, dem Wohl und Komfort der Wohlhabenden zu dienen. Das ist keine gesunde Entwicklung. Sie schlägt Stufen aus der Leiter des wirtschaftlichen Aufstiegs. Das...

From the New York Times:

US voters have abandoned political correctness. Have they also abandoned decency? They have clearly voted for “change.” Eight years ago, they did the same. They have voted against competence according to common standards. Maybe because they perceived competence to be correlated with “no change.” Maybe because they viewed competence as a weakness. Picking non-competent leaders can pay off in specific bargaining situations. In general, it is unlikely to pay off in the longer term. Race was...

Andy Borowitz in the New Yorker.

The New York Times’ Upshot. Currently the odds are 3/4 to 1/4.

In the FT, Edward Luce worries about a loss of dignity that is reflected in contemporary politics. Republicans generally favour liberty over equality and Democrats the reverse. Other people’s dignity is not up for grabs. Mr Trump’s hostile takeover of the Republican party has shredded that equation. … “You walked out of a Reagan rally in a spirit of optimism,” says Stuart Stevens, an adviser to Republican nominee Mitt Romney. “You leave a Trump rally ready for a fight.” … … Luigi...