Donald Trump will have a powerful tool at his disposal in his debate with Kamala Harris this week: the lamp of experience.
In fact, it’s long been known to economists that imposing a tariff can improve the terms of trade so much that domestic prices of imported goods subject to the tariff actually fall. This is known as theafter economist Lloyd Metzler who first wrote about the idea all the way back in 1949. What’s more, by increasing the incentives to invest in domestic production, the tariffs can increase global output of the tariffed goods, which also puts downward pressure on prices.
But that is not what’s been happening. The evidence so far indicates that most American firms passed only a fraction of the cost increase on to consumers — more in the range of $100 per family a year…by economists at Harvard University, the University of Chicago and the Federal Reserve Bank of Boston went a step further, examining data from two large retailers on prices of similar goods, some of which face tariffs and some that do not.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breitbart Business Digest: How the Migrant Surge Likely Drove That Huge Jobs RevisionSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: U.S. Native-Born Workers Work More Intensively Than ImmigrantsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Many Americans Don’t Believe Inflation Is Getting BetterSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Americans Are Increasingly Unhappy with Their JobsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Kamala Harris Runs a Campaign Based on Partisan Hope and DeceitSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Kamala Harris’s Inflationary LegacySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »