“Vastly superior” is what 15 Nobel Prize-winning economists had called President Joe Biden’s economic plan in June, and this is what 23 of them now call Vice President Kamala Harris’ plan. The group now also includes two of the most recent laureates – Simon Johnson and Daron Acemoglu of the Massachusetts Institute of Technology.
In a recent, 228-word letter signed by 23 Nobel Prize-winning economists, Kamala Harris has got a symbolic sanction on an issue quite commonly ranked as the most important: the economy.
In a letter procured by CNN, the economists write, “While each of us has different views on the particulars of various economic policies, we believe that, overall, Harris’ economic agenda will improve our nation’s health, investment, sustainability, resilience, employment opportunities, and fairness and be vastly superior to the counterproductive economic agenda of Donald Trump.”
The letter, a brainchild of Joseph Stiglitz, reads, “Among the most important determinants of economic success are the rule of law and economic and political certainty, and Trump threatens all of these.”
The letter delineates how Republican nominee Donald Trump’s tariff and tax policies are inflationary. However, Trump sticks to the view that his tariff plans would “have a massive effect, a positive effect.”
“The most beautiful word in the dictionary is tariff,” he said. “It’s my favorite word.”
However, the situation on the ground tells a different tale. According to the major polls, Americans prefer Trump over Harris when it comes to economic development. Based on the survey taken by The Financial Times, 45% of Americans favour Trump when it comes to financial decisions while only 37% lean towards Harris. Similarly a CNBC survey found that 42% of participants trusted Trump to deliver economic benefits compared to 29% for Harris.
Despite the discrepancy, economists remain confident in Harris’ plan. “Simply put, Harris’s policies will result in a stronger economic performance, with economic growth that is more robust, more sustainable, and more equitable,” the economists write.