When Policymakers Ignore Economists’ Warnings the Results Have Historically Been Catastrophic
Business
H istory regularly shows that basing economic policy upon ideology, hunches, and gut instinct, rather than on sound economic analysis, is a recipe for disaster. When policymakers have ignored well-established economic principles and instead tried to upend the status quo without good reason, the results have been catastrophic . That bodes poorly for President Donald Trump’s tariff policy, which experts warn will both raise prices and lead to an economic slowdown as other economies impose
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