The Economic Consequences of Donald Trump
The chapter analyzes the economic policy of Donald Trump and its impact on the American economy in the first 18 months of his presidency. It begins by defining Trump’s particular kind of populism, that we have called Trumpism, and by reminding some of his major links with economic and financial power. We examine then the implications of Trump’s America first policy, the characters and dangers of his neo-protectionist approach, the reform tax bill and Trump’s policy as regards Obamacare and the environment. Though Trump has not been able to completely demolish Obamacare and his anti-pollution measures, he has deeply weakened Obama’s reforms in both fields. In general, Trump’s policy has contributed to further increase social and economic inequality; to expand the military industry, large corporations, and big finance; and to exacerbate social, racial, and economic divisions in the US and in the international community. In the short-run, his policy has stimulated the economy a little, but has severely worsened public finance and some important public services and has created further social and economic divisions.
KeywordsPopulism and Trumpism Trump and the economic and financial power America first Neo-protectionism The tax reform bill Trump’s policy on health care and environment
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