New Book Announcement
Trump thinks he can cure some American economic issues by raising tariffs on things we import from China and elsewhere. But, pretty much all economists agree that just raising tariffs without a comprehensive policy framework will increase prices Americans must pay and thus increase inflation. A recession most likely will follow. California economists are more in agreement on that than the national averages suggest.
Tariffs can be a tool in our policy toolbox to make the United States better off; however, tariffs do not stand alone: they are a small part of a country's economic strategy.
Most countries understand that and create a country-wide set of policies to achieve sound economic growth. The United States has not had such a policy for many decades. It has been to our disadvantage that we did not.
The brand new book 'INDUSTRIAL POLICY FOR THE UNITED STATES, Winning the International Competition for Good Jobs and High-Value Industries', [authors Marc Fasteau and Ian Fletcher, 2024, Cambridge University Press, UK] suggests a well thought out strategy of raising some tariffs and ensuring a good economic future.
The book also addresses the underlying economic issues with trade as well as providing some examples of countries which have implemented a National Economic strategy and a coordinated trade policy.
Mike P. McKeever, Economics Professor, City College of San Francisco.
Email: mckeever.mp@gmail.com
Cell: 415-816-2982
URL: miepa.net; econoak.org
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