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When Americans voted for a new president last week, one economic issue was at the top of their minds: inflation. According to one exit poll, nearly 75% of voters said rising prices had caused hardship for their families.
The U.S., of course, isn’t the only country to see prices rise after the pandemic — and it’s not the only one where frustrated voters have kicked out incumbent lawmakers as a result. As one political scientist put it, “Inflation is radioactive.”
But while polls show Americans view Trump as stronger on inflation, his policies could inadvertently make the problem worse. Economics professor Veronika Dolar explains how his program of tariffs and tax cuts could make prices rise even more rapidly than they are now.
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Tracy Walsh
Economy + Business Editor, The Conversation U.S.
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Veronika Dolar, Pace University
Trump wants to jack up tariffs, deport millions of migrants and slash taxes. All three of these policies could fuel inflation.
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Work
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Libby (Elizabeth) Sander, Bond University
In tough economic times, employees may accrue annual leave because they can’t afford to travel or simply to give themselves a financial buffer.
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Economy
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Don Leonard, The Ohio State University
If real, inflation-adjusted wages are up, then why are millions of Americans so down about their economic prospects?
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Trade
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Vivek Astvansh, McGill University
Whoever’s governing Canada in the next four years must prepare for how to respond to — and preferably, pre-empt —Donald Trump’s rhetoric and ensuing actions to preserve and promote Canadian interests.
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Currency
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Nader Habibi, Brandeis University
Iran’s rial fell against the dollar just as Trump was claiming victory. The 2 events are linked, argues an expert on the Iranian economy.
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Inequality
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Rajiv Prabhakar, The Open University
Decades of lower pay and part-time work can leave women’s pensions worth a fraction of men’s at retirement.
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Nicholas Biddle, Australian National University
We found concerns about income inequality in Australia are strongly related to dissatisfaction with democracy. This suggests Australia’s satisfaction with democracy is at risk.
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Labor
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Jake Rosenfeld, Washington University in St. Louis
Restoring the defined-benefit pension plan the workers gave up in 2013 was a rallying cry. But the union didn’t get it back even though it did win a significant pay increase.
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