H Nolt discusses what distinguishes his views from those found in most economics textbooks. Read more The Political Economy of Political Labels Political parties often use labels and slogans to elicit visceral responses and mislead their followers. has been involved in multiple extended conflicts without an exit strategy. Nolt discusses the role domestic politics have played in initiating these ill-defined wars. Nolt argues that although war between the two countries is highly unlikely, one possible scenario would see Trump instigating conflict as a means to consolidate executive power. Read more Books for Learning Political Economy James H.
Looking at the history of liberalism and conservatism in the U. Nolt examines how the role of private power in driving policy often contradicts political rhetoric. Read more The Unlikely Prospect of War with China Trump's statements about his policy objectives have made the future of U. Read more There is tension between vulnerable domestic industries, which favor economic nationalist policies, and internationalists, who seek to reinforce their monopoly power in global markets. Nolt anticipates that Donald Trump's protectionist trade policies will hurt not only foreign countries and companies, but also American corporations and consumers. Nolt offers his must-read list for students interested in learning more about political economy.
Read more Trump’s Pivot to Russia Against China In the weeks since the U. presidential election, Donald Trump has indicated that his foreign policy will involve closer ties with Russia and more pressure on China. Nolt explains what this realignment would mean for U. Read more Profiting from the 2008 Crisis While economic crises have undeniable negative impacts, they also create opportunities for profit. Nolt points to the 2008 crash as an example of strategic private power exploiting an economic downturn. Read more Debt Dualism As Puerto Rico embarks on the long road to recovery after the devastation of Hurricane Maria, media attention is once again turning to the island territory's financial situation. Nolt explains why governments like Puerto Rico's are incentivized to take on large amounts of debt, often leading to crisis. Read more The Myth of Accidental War Last week, Donald Trump claimed Kim Jong Un “won’t be around much longer,” in a warning the North Korean foreign minister saw as a declaration of war. Nolt sets out to debunk the myth that armed conflict happens accidentally, arguing all wars are the result of careful choices, calculations, and strategies. The winner of this year's Nobel Memorial Prize in economics, Richard Thaler, disputes the assumption that consumers act rationally, his "nudge theory" showing how people can be duped into making choices in line with the interests of the powerful. Nolt argues that this type of behavioral economics cannot explain the big picture of financial dynamics. Republican Party, having failed to "repeal and replace" the Affordable Care Act, has turned to another important but divisive issue: taxes. Nolt describes how, rather than champion middle and working-class people, the party's tax reforms would more likely benefit corporate interests.Read more Trump: Business Nationalist or Internationalist?There are two issues that divide Trump campaign rhetoric from mainstream Republicans and their internationalist business constituents: the value of the dollar and trade protectionism. Nolt writes that Trump will have to carefully navigate these issues if he is to succeed in the White House.