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370 Prominent Economists Warn Voting for Trump Is 'Dangerous, Destructive'

370 Prominent Economists Warn Voting for Trump Is 'Dangerous, Destructive'

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By    |   Wednesday, 02 November 2016 09:33 AM

Donald Trump would be a "dangerous, destructive choice for the country," a group of 370 prominent economists wrote in an open letter in The Wall Street Journal.

The signatories, which include eight Nobel laureates in economics, warned against electing the Republican nominee, saying "he misinforms the electorate, degrades trust in public institutions with conspiracy theories and promotes willful delusion over engagement with reality," adding that he fails to "listen to credible experts" and promotes "magical thinking… over sober assessments of feasible economic policy options."

The Wall Street Journal said this open letter, which did not endorse any candidate, was different than ones that usually surface before every election, calling it less partisan or ideological.

It also goes into details about what the signatories consider the shortcomings of Trump's economic policy, such as he has no credible solutions to reduce budget deficits and has promoted misleading claims about trade and tax policy.

UC-Irvine Prof. Peter Navarro, a Trump adviser, harshly criticized the letter, telling The Journal that economists have proven to be wrong over the years about the impact of trade deals and "you don't need a Ph.D. in economics to know Trump's plan to cut taxes, reduce regulation, increase oil, gas, and clean coal production, and eliminate our trade deficit by increasing exports and reducing imports will significantly increase growth, boost wages and generate trillions in new tax revenues."

Earlier this month, a group of 100 businessmen wrote a letter on CNBC endorsing Trump, saying that "after seven years of anemic economic growth… every element of the Trump plan points synergistically, interactively, and dynamically towards growth, while Hillary's plan points in the exact opposite direction."

But Clinton was endorsed in a letter posted on Monday by a separate group of 19 Nobel Prize-winning economists.

The letter states that Clinton is eminently qualified to be president with a long record of public service, adding that "she has the experience and temperament to manage the American economy in times of both strength and volatility."

By contrast, the letter states Trump has no record of public service and offers an incoherent and reckless economic agenda. The signatories state that this has raised very serious concerns, combined with his other rash statements about many subjects outside economics.

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Donald Trump would be a "dangerous, destructive choice for the country," a group of 370 prominent economists wrote in an open letter in The Wall Street Journal.
Economists, Warn, Vote, Trump, Dangerous
373
2016-33-02
Wednesday, 02 November 2016 09:33 AM
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