President-elect Trump is the most pro-stock market president in history: Wharton’s Jeremy Siegel
Older videoes, but still relevant.
Here's How Trumponomics Compares To Reaganomics | CNBC
Nobel-prize winning economist on Trump's policie
Prompt to Bing Copilot, Google Gemini and the free version of ChatGPT.
Bing Copilot's answer:Jeremy Siegel Larry Summers Joseph Stiglitz Paul Krugman and other economists about a new periode with donald trump
Gemini's answerSeveral prominent economists have expressed their concerns about the potential economic impact of a second term for Donald Trump. Here's a summary of their views:
Joseph Stiglitz: Along with 15 other Nobel laureates, Stiglitz signed a letter warning that a second Trump term could have a negative impact on the U.S. economy, citing concerns about fiscal irresponsibility and potential inflation2.
Larry Summers: Summers has been vocal about the inflationary risks of Trump's economic policies, stating that there has "never been a presidential platform so self-evidently inflationary" as Trump's.
Paul Krugman: Krugman has consistently criticized Trump's economic policies, arguing that they could lead to economic instability and increased inequality.
These economists highlight the potential risks and challenges associated with Trump's proposed economic policies. If you want to dive deeper into their specific arguments, you can find more detailed information in their published works and public statements.
References:
https://business.columbia.edu/sites/def ... conomy.pdf
https://www.huffpost.com/entry/nobel-ec ... cf62440e7e
Free version of ChatGPT's answer.I can't help with responses on elections and political figures right now. While I would never deliberately share something that's inaccurate, I can make mistakes. So, while I work on improving, you can try [Google Search](https://www.google.com/url?sa=E&source= ... nald+trump).
The economists you mentioned—**Jeremy Siegel**, **Larry Summers**, **Joseph Stiglitz**, and **Paul Krugman**—have expressed a variety of views on economic policy during the presidency of **Donald Trump**, and many of these opinions stem from broader ideological divides regarding fiscal policy, trade, and the role of government in the economy. Here's a summary of their general views during the Trump administration:
### 1. **Jeremy Siegel** (Wharton School of the University of Pennsylvania, often referred to as a market-oriented economist):
Siegel is known for his optimism about the stock market and the economy, and he largely supported the pro-business policies enacted by the Trump administration. He was particularly enthusiastic about the **Tax Cuts and Jobs Act of 2017**, believing that tax cuts would boost economic growth, create jobs, and benefit the stock market. He argued that the tax cuts would lead to a rise in corporate investment and that deregulation would stimulate further economic expansion.
- **Support for Trump's Economic Policies**: Siegel viewed the reduction of the corporate tax rate as a good move for fostering business investment. He also appreciated Trump's emphasis on deregulation, believing that it would increase business productivity and profits.
- **Caveats**: Siegel did express concerns about the long-term fiscal impact of the tax cuts, especially the rising budget deficits and national debt, but his overall tone remained relatively optimistic about Trump's approach.
### 2. **Larry Summers** (Former Treasury Secretary and Harvard economist):
Larry Summers, a prominent liberal economist, was critical of many aspects of Trump's economic policies. He argued that the Trump administration's tax cuts, while providing a short-term boost to growth, were likely to lead to **greater income inequality** and **unsustainable deficits**.
- **Opposition to Trump's Tax Cuts**: Summers argued that Trump's tax cuts disproportionately benefited the wealthy and did little to address the structural issues in the U.S. economy, such as stagnating wages for the middle class. He also criticized the lack of offsetting spending cuts, which he argued would worsen the federal deficit.
- **Trade Policies**: Summers was particularly critical of Trump's protectionist trade policies, such as the **tariffs on China**, arguing that they would hurt consumers and ultimately harm American businesses, particularly in the longer run.
- **Warning Against Inflation**: While he initially focused on the tax cuts and deficits, Summers later became concerned about rising inflation, especially in the context of pandemic-related stimulus measures. In 2021, he became an outspoken critic of the Biden administration’s economic policies (which were seen as similar to some of Trump’s stimulus initiatives) and warned that they could lead to an overheating economy.
### 3. **Joseph Stiglitz** (Nobel laureate in economics and former chief economist of the World Bank):
Joseph Stiglitz, a prominent critic of laissez-faire capitalism and proponent of progressive economics, was highly critical of the Trump administration, particularly its economic inequality policies.
- **Income Inequality**: Stiglitz argued that Trump's economic policies exacerbated income inequality, with the wealthy benefiting disproportionately from the **tax cuts** and **deregulation**. He was concerned that this would lead to greater social unrest and instability.
- **Environmental and Regulatory Rollbacks**: He was also highly critical of the Trump administration's environmental and financial deregulation efforts, arguing that they would lead to long-term environmental and economic damage. For example, he opposed Trump's rollback of financial regulations that were put in place after the 2008 financial crisis.
- **Trade and Globalization**: Like Summers, Stiglitz was critical of Trump's trade policies, particularly his approach to China. He argued that the tariffs were damaging and that Trump’s trade war was likely to have negative repercussions for global growth, particularly in the developing world.
### 4. **Paul Krugman** (Nobel laureate in economics and columnist for *The New York Times*):
Paul Krugman, a leading progressive economist, was one of the most vocal critics of Donald Trump's economic policies. He consistently criticized Trump’s tax cuts, trade wars, and general approach to economic governance.
- **Tax Cuts and Fiscal Policy**: Krugman viewed Trump’s tax cuts as a giveaway to the wealthy and a significant contributor to increasing the federal deficit. He argued that the tax cuts did little to boost long-term economic growth and instead mainly inflated the wealth of corporations and the rich. Krugman pointed out that the U.S. economy was already at full employment when Trump passed the cuts, making the move even less necessary from an economic standpoint.
- **Trade Policy**: Like other economists, Krugman was critical of Trump's trade war with China. He argued that tariffs were a form of economic self-sabotage that would harm consumers, disrupt supply chains, and hurt American farmers and manufacturers. He was also critical of the way Trump handled trade relationships in general, believing that it isolated the U.S. from global cooperation and weakened international alliances.
- **Populism and Governance**: Krugman was also critical of Trump’s populist rhetoric, arguing that it was dangerous to the long-term health of democratic institutions and economic stability. He often pointed out the dangers of the Trump administration’s approach to governance, especially the disdain for expertise and disregard for evidence-based policy.
### General Themes in Their Critiques of Trump’s Economic Policies:
- **Tax Cuts and Inequality**: Economists like Summers, Stiglitz, and Krugman consistently criticized Trump’s **tax cuts for the wealthy** and corporations, arguing that they exacerbated income inequality without delivering significant long-term growth benefits.
- **Trade Wars and Global Relationships**: Many economists, including Summers, Stiglitz, and Krugman, saw Trump’s trade policies as counterproductive. The tariffs imposed on China were widely viewed as harming consumers and businesses, while the **America First** trade stance was seen as isolationist and damaging to global economic cooperation.
- **Fiscal Responsibility**: While Siegel had some positive views on the corporate tax cuts, the other economists voiced concerns over the fiscal implications of the tax cuts, especially in light of the increased **budget deficit** and **national debt**.
- **Economic Growth and the Long Term**: Some of the economists (like Siegel) focused on short-term growth and market optimism, while others (Summers, Stiglitz, and Krugman) were concerned with the long-term sustainability of Trump's policies, particularly regarding inflation, deficits, and environmental degradation.
In sum, there was a broad spectrum of opinion about Trump’s economic policies, with more market-oriented economists like Siegel generally supportive of his pro-business initiatives, while more liberal economists like Summers, Stiglitz, and Krugman were highly critical, especially in terms of inequality, trade, and fiscal responsibility.