As the US approaches another important election, a new article from economist Veronique de Rugy challenges the common narrative that Vice President Kamala Harris and former President Donald Trump represent drastically different economic visions. De Rugy argues that both candidates actually share similar stances on key economic issues.
De Rugy points out that both Harris and Trump have protectionist trade policies, emphasizing protecting American jobs and industries at the expense of consumers and economic efficiency. They both support industrial policy, favoring government intervention to support specific industries or companies. Both candidates also have reckless spending habits, with no plans to address the unsustainable financing behind Social Security and Medicare.
Moreover, both Harris and Trump support subsidies for homeownership, which could lead to increased housing prices. While there are differences on regulations, taxes, and immigration, Republicans have shown a new interest in labor unions, echoing some of Harris’ policies.
De Rugy argues that voters deserve to understand the similarities between the candidates’ economic approaches, which largely center on big government intervention and fiscal irresponsibility. She highlights Libertarian candidate Chase Oliver as a proponent of free markets and fiscal responsibility, but laments his lack of visibility in the political arena.
Ultimately, De Rugy suggests that the two main candidates represent different sides of the same economically interventionist coin. As the election approaches, it is important for voters to recognize the true choices before them and consider the implications of each candidate’s economic policies.
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