Category Archives: Economics

Nathan and Dave Green debate this question. Grok says: The North American Free Trade Agreement (NAFTA), implemented in 1994, had a mixed impact on the standard of living for the average American, with evidence suggesting modest overall benefits but significant … Continue reading →

Grok says: The Washington Consensus refers to a set of ten economic policy prescriptions promoted in the late 1980s and 1990s by institutions like the IMF, World Bank, and U.S. Treasury, primarily for developing countries. Coined by economist John Williamson … Continue reading →

Clyde Prestowitz wrote in this 2021 book: The United States got rich by imitating Great Britain and thereby marking a trail followed by Germany, France, Japan, South Korea, Singapore, the Netherlands, Switzerland, Sweden, Taiwan, and South Korea — all of … Continue reading →

Ralph Gomory, the former IBM chief scientist and Sloan Foundation president, and William J. Baumol, former American Economics Association president, wrote: * In [David] Ricardo’s time trade is estimated to have constituted about 1 percent of world GDP. Since then, … Continue reading →

Inflation has dropped every month under Donald Trump. Economists and media are hardest hit. Economists in particular were predicting higher inflation due to Trump’s tariffs. They were wrong. Again. The credibility and prestige of social science depends in large part … Continue reading →