Trump's policies are not boosting economic growth. So the Trumpists—paid, and those who hope to cash in—are preparing the battlespace by arguing that economic growth isn't a good thing anyway—just as we have shifted from "no collusion!" to "collusion isn't illegal!" To his honor, Michael Strain pushes back:

Michael Strain: Right-Wing Populists Are Wrong About Economic Growth - Bloomberg: "Oren Cass... the Manhattan Institute... argues that the results from decades of policies designed to encourage GDP growth are 'embarrassing' and have 'steered the nation off course'. Michael Anton... Claremont... questioning the presumption that technological and economic progress is desirable and that innovation is 'per se good.... [But] growth doesn’t just help low-income and working-class households in the short term. Over longer periods, seemingly small changes in the growth rate have large consequences.... A rising tide does not lift all boats equally, and it doesn’t lift them instantaneously. But over time, all boats do rise considerably...

...Populists are of course correct that we also need to be talking about targeted programs designed to help the working class—even if funding these endeavors can slow growth.... But populists need to be reminded that it is precisely a growing economy that creates the financial and political space for these types of programs. Undervaluing growth will lead us to make imprudent choices, forgetting the true cost of programs. Among the populists on the left and right, downplaying growth makes it easier to attack free trade and immigration... Imagine the world in the year 1900. There was no air travel, no antibiotics, no iPhone, no Amazon Prime, no modern high school and no air conditioning. Compared with today, people were starved for knowledge and leisure. Anyone who played down growth a century ago wouldn’t have known they were arguing against any of these things, because none of these growth-enabled features of modern life had been invented yet. But they would have been putting the existence of all these at risk by stifling, even marginally, the economic engine that allowed for their creation...


#shouldread

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