The article critiques former President Trump's approach to tariffs and economic policy, arguing that he is disregarding historical lessons about protectionism, particularly the disastrous effects of the 1930 tariffs which contributed to global economic crises. It highlights how Trump’s inconsistent tariff policies have created unpredictability in the market, leading to stock market declines. Additionally, the piece laments the inefficiency of government departments under Trump’s administration and suggests that mass firings will not lead to productivity but to prolonged legal challenges, ultimately painting a bleak picture of his economic legacy.
Until Donald Trump, no U.S. president has been so ignorant of the lessons of history. Markets plunged following his tariff threats and unpredictable policies.
A willful, erratic, and heedless president is prepared to risk both the U.S. and global economy to make his ideological point, despite historical lessons.
The Department of Government Efficiency won't end well. It is neither a department nor efficient, and government efficiency is, by Madisonian design, an oxymoron.
Mass firings of thousands of federal employees won't result in a more productive workforce. Rather, it will mean a decade of litigation and billions in legal fees.
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