Bannon and Trump are out for revenge - The Washington Post - 0 views
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From an economic standpoint, Bannon is talking mumbo jumbo. Protectionism and immigration exclusion retard growth; they do not promote it. We do not lose “sovereignty” when our consumers enjoy a higher standard of living thanks to imported goods. And in the regulations department, what could be more of a regulatory burden than cutting legal immigration, trying to influence which suppliers to use via a border adjustment tax or bullying companies about where they set up their plants?
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This is not about sovereignty; it is about creating an even more powerful government, one that is oblivious to economic reality and ignores the political and economic upheavals that the policies create.
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If he has been listening to U.S. business leaders, allies, informed members of Congress or the Federal Reserve chairman, he must have figured out how counterproductive his nationalist ideas are. (We’ve tried this before in the 1930s — with poor results.) And yet the appetite to decimate liberal Western democracies and shred an international system that has maintained relative peace and prosperity is unabated.
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