Where is Larry Kudlow?
I missed the importance of Donald Trump’s appointment of a Goldman Sachs investment banker, Gary Cohn, to head the President’s National Economic Council. Then I read Chris Ruddy’s post at Newsmax in which he expressed concern that many of Trump’s loyal supporters were being “passed over.” Kudlow was expected to get the appointment given to Gary Cohn.
In the last debate with Hillary Clinton, Donald Trump was given a softball question about economics. When he didn’t recite a “Supply-side” argument for tax cuts, I knew that Trump had not absorbed the lessons on economics drummed into him by Larry Kudlow and Steve Moore.
What are we to make of this appointment of Gary Cohn?
Investment bankers may know something about Economics, but they are not necessarily Economists. They know a lot about lots of things, but few are wedded to economic doctrines that we associate with Art Laffer, Alan Reynolds, Steve Moore, Larry Kudlow, Richard Rahn, Raymond Keating and many others.
It may be too soon to make a judgment about the economic policies of a Trump Administration, but the signals thus far are not good. Let us prepare ourselves by studying Richard Rahn’s Supply-side wiki so that we may rally our forces!
