Heterodox
When US President Donald Trump boasted that trade wars are "easy to win" in March 2018, it was convenient to dismiss the remark as a rhetorical flourish. Yet it is now clear that Trump meant it, because he genuinely believes the bizarre and anachronistic macroeconomic theories underlying his approach.... When even Robert Barro is against you.Interestingly, Professor Barro reiterates that imports are an economic benefit in the sense of increasing a nation's real wealth, and that trade is...
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