Session 7: The New Trilemma of Macroeconomic Policy: Future Policy Responses

In November, U.S. voters will decide who will take control of the White House, the Senate, and the House of Representatives. Kamala Harris, Donald Trump, and their political parties differ significantly on key economic policy proposals that will heavily impact the economy of the country and, therefore, the world. Here, we examine examples in the fields of trade, tax, energy, and immigration. On trade, although the Democrat administration of President Joe Biden has not been a bastio ...

Closer to a ‘Third World War’ When in the last week of July, Israel’s Prime Minister Benjamin Netanyahu visited Trump at his estate in Florida, the Republican candidate insisted to his visitor, who is attempting to eliminate all hopes of an independent Palestinian states through violence and destruction: “You are close to a third world war now, more than at any time since the Second World War. You’ve never been so close, because we have incompetent people running our country” (The ...

Most of the Population Does Not Benefit Until mid-2021, cruise ships moved with all their glitz and glamour into Venice’s Guidecca Canal, overshadowing the historic buildings, the foundations of which were destabilized with every wave, and threatening fisher boats and cappuccino lovers sitting beside the canal. Thousands of cruise passengers spilled onto the cobblestone roads, enjoying Gondola rides, glimpsing the Bridge of Sighs, exploring the fish markets near the Rialto bridge a ...

China’s economy grew by 4.7% year-on-year in the second quarter of 2024, after 5.3% in the first quarter of the year (Figure 1). As in 2023, the official target has been set at 5% for 2024 (Figure 2). Naturally, great attention has been paid to the decisions of the Third Plenum of the 20th Communist Party of China Party Congress on July 15-18, a four-day meeting in which the country’s leadership sets out the direction of economic policy. The last such event was held in 2018. Do ...