Trump's Challenge to Traditional Economics
Capricious as they may be, his job-saving efforts raise important questions about values.
More than just a job?
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Donald Trump has attracted plenty of criticism for his efforts to bully companies into keeping jobs in the U.S. Capricious as his actions may seem, though, they do raise some important questions about how we should define economic success.
Economists including Paul Krugman, Larry Summers, Tyler Cowen and John Cochrane have roundly lambasted Trump for his acts of populism -- such as pressuring manufacturer Carrier into preserving about 1,000 jobs in Indiana. They point out that 1,000 is nothing in a country where millions of jobs are eliminated and created every month. They also worry that the presidential micromanagement undermines the rule of law.