Trump’s Trade Threats Are Hurting Growth

Tariff tensions promote economic uncertainty, which in turn inhibits business investment. By Phil Gramm and Mike Solon Economic uncertainty and prosperity are sworn enemies—when uncertainty reigns, prosperity fades. Uncertainty undermines prosperity by sapping investor and consumer confidence, choking off private investment, and suppressing consumer spending. The depression that followed the 1929...
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WSJ: Trump, Tariffs and the Protectionist Temptation

The trade balance doesn’t matter for U.S. prosperity. But America could benefit from updating and enforcing its trade deals, especially with China. By Phil Gramm and Mike Solon Any objective analysis of America’s economic history discredits the notion that the trade balance has a defined relationship with economic growth and job...
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WSJ: A Booming Economy Will Challenge the Fed

Normal growth will drive up the demand for bank loans and induce lending of excess reserves. By Phil Gramm and Thomas R. Saving Dec. 13, 2017 6:37 p.m. ET The asset base of the world’s financial institutions crumbled in the fall of 2008 as mortgage-backed securities collapsed and credit markets froze....
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WSJ: Don’t Be Fooled by ‘Secular Stagnation’

American exceptionalism hasn’t come to an end, and we needn’t settle for 2% economic growth. What the U.S. needs is policies like Reagan’s, not Obama’s. By Phil Gramm and Michael Solon Dec. 1, 2017 6:40 p.m. ET The only sound basis for gauging the potential impact of public-policy changes is through...
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