Opinion Today: Trump wouldn’t be good for the economy

Opinion writers on what a second Trump term would mean for the economy.

View in browser|nytimes.com November 1, 2024 By Peter Coy Opinion Writer One argument you sometimes hear for Donald Trump — that he may be a bad person, but good for the economy — fails in two ways. First, because being good for the economy should not be sufficient to get a badly flawed candidate elected. And second, because the former president's return to office would actually not be good for the economy. That latter point has been argued from many persuasive angles in Times Opinion. We have been all over this topic in editorials, columns, guest essays and podcasts. To offer just a few examples: Trump's political agenda doesn't stop at politics, I wrote in an edition of my economics-focused newsletter in September. His economic agenda, I wrote, "begins to approach what some scholars call authoritarian capitalism." In such a system, state institutions are reduced to serving the governing elite's interests. A Times editorial in October made the same point: "Right-wing populists often win elections by promising pro-business policies that will unleash economic growth. Once in office, however, they don't just fiddle with the knobs; they break the machinery." The columnist Michelle Goldberg wrote in August that Trump was openly expressing "sympathy with plutocrats over unions." That hasn't earned him widespread support from corporate America, though, the guest essayist Jeffrey Sonnenfeld wrote in June. He wrote that chief executive officers worry that Trump will jack up tariffs and interfere in the Federal Reserve's conduct of monetary policy. In a July guest essay, Rebecca Patterson added "unfunded tax cuts" to the list of Trumpian policies that she said "would probably raise borrowing costs for businesses, households and the government," which in turn "would mean everyone would have less money to spend." Inflation inflamed many voters against the Democrats. But Trump's policies — especially high tariffs, mass deportation and meddling in monetary policy — would probably make inflation higher, not lower. The headline on an edition of the Ezra Klein Show podcast in June said it all: "Trump's Bold Vision for America: Higher Prices!" There's been much more. Check out these and other perspectives from Opinion writers below. MORE FROM OPINION Michelle Goldberg Trump Is No Longer Even Pretending to Champion the Working Class He's always longed for the approval of oligarchs. By Michelle Goldberg Paul Krugman How Trump's Radical Tariff Plan Could Wreck Our Economy There's no upside to the former president's pet economic plan. By Paul Krugman Guest Essay Don't Take Trump's Word for It. Check the Data. Don't Take Trump's Word for It. Check the Data. By Steven Rattner and Aileen Clarke Guest Essay Trump Ignores the Ruinous History of Tariffs The former president is praising the era when tariffs fueled the federal budget — and also caused social dislocation and financial instability. By Steven R. Weisman Guest Essay How Trump's Ideas Could Seriously Mess With Your Financial Life Policy proposals from Donald Trump and his circle threaten the huge advantages the United States enjoys from the Treasury market. By Rebecca Patterson Guest Essay You Want Policies? Trump's Got Policies. The former president's plans for a second term are very likely to have unintended consequences. By Thomas B. Edsall Peter Coy Trump's Economics, Too, Are Sounding More Authoritarian His economic agenda would concentrate more power in the hands of the president. By Peter Coy Guest Essay I Know What America's Leading C.E.O.s Really Think of Donald Trump He has the lowest level of corporate support in the history of the Republican Party. By Jeffrey A. Sonnenfeld Here's what we're focusing on today: Editors' Picks Why Trump Has a More Plausible Path to the Presidency, in 19 Maps A Democratic strategist explains how a deadlocked presidential race may play out in the Electoral College. By Doug Sosnik More From Opinion Michelle Goldberg What I Truly Expect if an Unconstrained Trump Retakes Power The transition from democracy to autocracy is a process, not an on-off switch. By Michelle Goldberg Guest Essay You Might Consider Praying It's what can we do when we don't know what to do. By Sara Sherbill Guest Essay Ricky Martin, Lin-Manuel Miranda and Rita Moreno: Puerto Ricans Are Not Throwing Away Their Shot Our vote won't be a reaction to racist jokes. By Ricky Martin, Rita Moreno and Lin-Manuel Miranda Jamelle Bouie Donald Trump Is Done With Checks and Balances You aren't just choosing a candidate. You're choosing a theory of power. By Jamelle Bouie Gail Collins Kamala Harris Can Make History, Whether or Not She Wants to Talk About It Don't let the monarch of Mar-a-Lago take back his throne. By Gail Collins For Day of the Dead, a Burst of Flowers to Honor the Departed During the Day of the Dead, the cempasúchil, or marigold, is believed to guide spirits back home. In Mexico City, people who lost a loved one to Covid use the flower to honor their dead. By César Martínez Barba Guest Essay The Silver Lining on Election Day: Significant Political Reform Is on the Ballot Widespread dissatisfaction with American politics can lead to major political reform. By Richard H. Pildes Paul Krugman Leopards Are Telling You That They Will Eat YOUR Face Many of Donald Trump's supporters are unprepared for what's coming if he wins. By Paul Krugman Can We Please Mute the President for a Few More Days? A week's worth of bad political actors. By Michelle Cottle The Opinions Will the Racism at Trump's Madison Square Garden Rally Matter? Latino voters could determine who will be the next president. Donald Trump might have jeopardized his chances with them. 15 MIN LISTEN Matter of Opinion This Election Is the Tiebreaker Over Trumpism The hosts dig into what they got right, and what they got so wrong, about this campaign season. 46 MIN LISTEN John McWhorter Donald Trump Is Bored There's plenty going on there, but it's not senility. It's "extravagance." By John McWhorter Hey, Bus Driver: Why Can't You See Us? Being disabled shouldn't mean being ignored. By Aaron Retica The Valencia Floods Show That Climate Change Will Keep Defying Expectations Startling torrents from the sky are among our most frightening foes in a warming world. By Eliza Barclay Trump, Musk and an American Masculinity Crisis By blatantly flouting norms (or even laws) and seemingly getting away with it, they burnish their appeal to young men. By Zeynep Tufekci The Ezra Klein Show 2024 Is a Fight to Define the Next Political Order The historian Gary Gerstle discusses how America's political consensus has shifted over the decades. 1 HR 28 MIN LISTEN Rob Vargas letters Those Voters Who Are Still Undecided Readers express surprise that some voters are still uncertain and urge them to vote. Also: Michelle Obama's plea; marijuana reform; family policies. We hope you've enjoyed this newsletter, which is made possible through subscriber support. Subscribe to The New York Times. Games Here are today's Mini Crossword, Wordle and Spelling Bee. If you're in the mood to play more, find all our games here. Forward this newsletter to friends to share ideas and perspectives that will help inform their lives. They can sign up here. Do you have feedback? Email us at opiniontoday@nytimes.com. If you have questions about your Times account, delivery problems or other issues, visit our Help Page or contact The Times. Need help? 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