Economics
Trumponomics ‘Bad for World Economy,’ 2016 Nobel Laureate Warns
- Oliver Hart, this year’s laureate, warns against trade war
- Sees ‘sweet deals’ as main upshot of Trump’s fiscal proposals
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This year’s winner of the Nobel prize in economics says U.S. President-elect Donald Trump’s economic program is worrying as the former reality TV star threatens to dismantle trade agreements and trigger a protectionist era that would ultimately “be bad for the world economy.”
Harvard University’s Oliver Hart, who won the 2016 Nobel economics prize together with Bengt Holmström of the Massachusetts Institute of Technology for laying the groundwork for contract theory, said Trump’s proposals on trade would also hurt the world’s largest economy.