Economists Are in the Wilderness. Can They Find a Way Back to Influence?
Published On Jan 10, 2025, 5:01 AM
Economists are struggling to maintain influence in policy-making as their traditional views on issues like free trade and immigration clash with current political sentiment, particularly under the Trump administration. At a recent economics conference, experts acknowledged a disconnect between their economic theories and the views of the general populace. For instance, while economists largely support free trade, the political narrative has shifted towards protectionism and stricter immigration policies. This situation raises questions about the relevance of traditional economic advice in current political dynamics.
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The ongoing shift towards protectionist policies may impact sectors that rely heavily on free trade principles. Companies involved in international trade could face challenges due to tariffs and trade barriers. However, sectors that focus on domestic production may experience a boost as a result of these policies.
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