Adam Davidson skewers Navarro, the author of Trump’s economic plan:
The first hint of how Navarro’s ideas might play out in a Trump Administration came in the most comprehensive economic document so far released by the campaign. Navarro, along with the Trump supporter and private-equity investor Wilbur Ross, wrote “Scoring the Trump Economic Plan: Trade, Regulatory, & Energy Policy Impacts.” …
The document … presents no concrete prescription to correct the trade imbalance it abhors. One key sentence: “Trump proposes eliminating America’s $500 billion trade deficit through a combination of increased exports and reduced imports.” This is a tautology, equivalent to saying one plans to weigh less in the future through a combination of losing weight and not gaining weight. [emphasis added]
That’s not a plan. That’s a wish.
Via Greg Mankiw.
Cross-posted from SUU Macroblog, which is required reading for my macroeconomics classes.