Trump's Tariffs: the uselessness of economists
I heard a nice joke the other day:
After astrology, came astronomy. After alchemy, came chemistry. And after economics ..?
The world has been watching and waiting in a state of fear and loathing for Trump’s long-awaited, bizarrely-telegraphed barrage of punches. What will happen now?
To me, the hilarious aspect is that nobody has a clue. I suppose everyone agrees it will act as a brake on world trade. Well, duh. OK, and … ?
If macro-economics means anything whatsoever by way of a ‘science’, there should be a definitive answer when such extreme measures are taken. And to me, an avowed econo-skeptic, this all looks to be as significant as, say, the oil-price hike of 1973-4.
Anyone round here got anything better? What we’re after is solid, unequivocal, drop-dead economy-related predictions beyond the short-term and the trivial.
ND
Source: http://www.cityunslicker.co.uk/2025/04/trumps-tariffs-uselessness-of-economists.html
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