“Between a good and a bad economist, this constitutes the difference — the one takes account of the visible effect,” French economist Frederic Bastiat once said. “The other takes account both of the effects which are seen, and also of those which it is necessary to foresee.”
As the 2020 presidential campaign gets into full swing, Democratic candidates and Donald Trump alike extol the visible effects of their proposals. But very little, if any, time is spent on the invisible effects trade-offs.
Here are the visible and invisible effects of a number of proposals:• Tariffs and other trade restrictions: Tariffs make […]
Full Post at www.santacruzsentinel.com