""It's the least conservative government of my lifetime." Wolfers, who the IMF once named one of 25 young economists in the world "shaping the way we think about the global economy," said that Trump's undermining of federal institutions' independence and propensity to insert himself in private sector decisions is reorienting the economy away from a productive and predictable path. The result, Wolfers warned, could be a generation of missed opportunities and lost growth."
"'Brexit is a lovely case study for my friends over here in the United States,' he told CNN last year. Wolfers has criticized Brexit's isolationist effect on the U.K. for years of stagnant growth and higher unemployment. 'That's pretty much the script America's gonna have to follow as well,' he said, amid the U.S.'s escalating trade war rhetoric last spring towards the U.K. and Europe."
Donald Trump's 2024 reelection economic rhetoric promised deregulation and tax cuts to liberate the private sector and spur growth. Actual policy under Trump 2.0 has taken a protectionist, mercantilist turn resembling early 20th-century economic strategies, with tariffs and intervention. University of Michigan economist Justin Wolfers characterizes the administration as the most interventionist and least conservative of his lifetime. Trump has undermined institutional independence and intervened in private-sector decisions, reorienting the economy away from a predictable, productive path. Analysts warn that these policies risk prolonged stagnation, lost investment, and a generation of missed opportunities similar to the economic damage observed after Brexit.
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