Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
For those who have been dazed by the election of Donald Trump, it was the economy that dictated the outcome. Political science has documented that elections are based on individual financial prosperity. Presidential campaigns hinge on the answer to the question, “Are you better off than you were four years ago?” The cumulative pernicious effect of inflation on voters with incomes under $100,000 led to Trump’s victory.
The Biden and Trump presidencies have been a tale of two economies. Individuals and firms fared better based on inflation, employment and interest rates under Trump prior to the pandemic.
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