Thursday, August 20, 2015

The Donald v. Kudlow

Kudlow, a scrivener, doesn't like Trump's plans.

...Trump’s agenda of trade protectionism, dollar devaluation, and immigrant deportation is completely anti-growth. It’s like Fortress America in an economy that is completely globalized and where the U.S. must compete in the worldwide race for capital and labor. Trump’s policies don’t fit....

Kudlow, like a lot of other "economists", never read Keynes' complete works.  If he does, he might learn something, specifically that Keynes assumed a closed economy for his 'pump-priming' to work.  So Kudlow can have his invasion-of-immigrants OR he can have pump-priming, but not both.  (Friedman underlined it with his remark that one cannot have both open borders and a welfare state.)

But hey!  Kudlow's part of the Establishment.  Being blind, deaf, and dumb is the trademark.  It's a bug, not a feature, but it works.

For them, anyway.

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