Trump can, like every government, trigger a short boom with borrowed money, just like he has announced. He appears to want to adopt the economic policy approach favored by Republicans of putting lots of money into building roads and cutting taxes. Markets like that. But, at the end of the day, someone always has to foot the bill.
Nicholas BloomThe high-tech industry needs the immigration of highly qualified labor, from India, from China, from everywhere.
Nicholas BloomThe Brexiteers promised their supporters wonderful things, almost none of which can ever come true. The billions that London transfers to Brussels will most certainly not land in the budget of the country's National Health Service. Brexit is going to be very bitter for many of its supporters.
Nicholas BloomMany people who have lost out in the last few decades voted for Trump. Trump will have a difficult time turning them into winners. The jobs of these people are not at risk because of Chinese or Mexican workers, but because of robots and computers. And new trade barriers and higher tariffs are not going to change that.
Nicholas Bloom