If someone comes out with a dingbat policy – say, we should all tax ourselves more for our temerity in buying from Johnny Foreigner – then that’s bad. But if we’ve had a series of dingbat policies then the truly damaging part becomes the uncertainty of what he next piece of dingbattery is going to be. Rather the problem with all politically directed policy of course, it’s terribly difficult to gauge how stupid the politicians are actually going to be:
Misdirection and the trade war malediction of 2018: Scaling the US–China bilateral tariff hikes
Simon Evenett, Johannes Fritz 01 July 2019
What is the practical and intellectual significance of the Sino-US tariff hikes of 2018?…
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