Scrimping on sense

The Republican nominee’s ideas on the economy are thoughtless and dangerous


  • by
  • 08 11, 2016
  • in Leaders

FOR Donald Trump, details are not a strong suit. His policies typically fit in a tweet: build a wall, reduce Muslim immigration, make NATO allies pay for protection. That makes them easy to list but hard to fathom. His speech on August 8th, on economic policy, was an opportunity to explain at greater length how he hopes to achieve the economic boom that he promises American workers. Alas, the extra detail did not bring greater clarity. Even when sticking to a script, Mr Trump seems incapable of producing ideas of depth and rigour. His plan is more wild brainstorm than policy memo.Mr Trump paints a picture of the economy that is irreconcilable with the facts. He says jobs are scarce, poverty is rising and incomes are stagnant. But in reality America’s economy is the strongest in the rich world. Unemployment is only 4.9%. The poverty rate, though high, has been falling since 2012. And median earnings have risen by 5% in real terms in the past two years. It is normal for opposition politicians to exaggerate economic problems, and the image of an economic wasteland is based on the genuine problems of areas that relied on low-value manufacturing, where workforce-participation has fallen (see ). But Mr Trump goes much further, claiming that America’s unemployment statistics are “a hoax”.

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