In a provocative guest essay published by The New York Times, Jeffrey A. Sonnenfeld, president of the Yale Chief Executive Leadership Institute, contended that many of former President Donald Trump's economic initiatives share more in common with communist principles espoused by Karl Marx than with the capitalist ideas of Adam Smith. This bold assertion has sparked significant discussion as Trump seeks a second term in the White House.

Sonnenfeld's essay, titled "I Know What America's Leading C.E.O.s Really Think of Donald Trump," dismantles Trump's claims of widespread support from big business leaders. Sonnenfeld, who has acted as a private liaison between business and political leaders including Trump and President Joe Biden, asserted that many CEOs are deeply concerned about the implications of a second Trump presidency.

 

"The MAGA [Make America Great Again] die-hard voices that have Mr. Trump's ear often share more in common with the far left than with the traditional Republican Party," Sonnenfeld wrote. He criticized Trump's economic policies, including proposed universal 10 percent tariffs on all imports, unorthodox monetary and fiscal policies, stripping the Federal Reserve Board of its independence, and potentially instituting yield curve control to force interest rates lower. "These Trump positions share more in common with Karl Marx than Adam Smith," Sonnenfeld argued, emphasizing that such policies would likely drive inflation higher.

 

Sonnenfeld noted that during Trump's first term, he had more reasonable advisors like Jared Kushner, Dina Powell, and Steven Mnuchin who served as conduits to the business community. However, he lamented that these voices have been replaced by "MAGA extremists and junior varsity opportunists."

 

In response to the controversy, Newsweek reached out to Trump's campaign for comment. Previously, Steven Cheung, communications director for the Trump presidential campaign, disputed similar characterizations, stating, "President Trump was warmly received by everyone in the room and was commended for his policy proposals on deregulation and tax cuts."

 

Sonnenfeld's essay comes at a time of heightened scrutiny of Trump's economic policies, particularly following a report from USA Today that highlighted the differences between Trump's and Biden's economic plans. Mark Zandi, chief economist of Moody's Analytics, was quoted in the report saying, "Biden's policies are better for the economy." Despite this, public perception of Biden's economic policy remains low, with a Yahoo News/YouGov poll indicating only 33 percent approval of Biden's handling of the economy.

 

Under Biden's administration, notable economic achievements include low unemployment rates, with April marking the 27th consecutive month of unemployment rates below 4 percent, the longest streak since the 1960s. Biden's policies have also focused on infrastructure investments, support for domestic chip making and electric vehicle production, and maintaining record corporate profits and robust financial markets.

 

Conversely, Trump has floated various economic ideas, including an "all-tariff policy" that could eliminate income tax and a 10 percent tariff on all imports, with potentially higher tariffs on Chinese imports. At a rally in New Jersey, Trump promised tax cuts for all Americans and proposed not taxing workers who earn part of their income through tips if he were to win the White House.

 

As Trump and Biden prepare to face off in a debate on June 27, the stark differences in their economic policies will undoubtedly be a focal point. Trump's proposed policies, which some argue lean towards authoritarian economic control, will be juxtaposed against Biden's strategies aimed at fostering economic growth and stability.

 

Sonnenfeld's critique adds a layer of complexity to the political discourse surrounding the upcoming election, challenging the perception of Trump's alignment with traditional capitalist principles and raising questions about the broader implications of his economic vision.

 

Credit: NewsWeek 2024-06-25

 

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Quote

 

In a provocative guest essay published by The New York Times, Jeffrey A. Sonnenfeld, president of the Yale Chief Executive Leadership Institute, contended that many of former President Donald Trump's economic initiatives share more in common with communist principles espoused by Karl Marx than with the capitalist ideas of Adam Smith. This bold assertion has sparked significant discussion as Trump seeks a second term in the White House.

He criticized Trump's economic policies, including proposed universal 10 percent tariffs on all imports,

 

 

 

Let's look up Karl Marx's view on tariffs. 

 

From ChatGPT

 

Karl Marx had a nuanced view on tariffs. His stance was largely influenced by his broader economic theories and the context of the economic and political situations of his time.

Criticism of Capitalist Tariffs: Marx was critical of tariffs when they were used in capitalist economies to protect the interests of the bourgeoisie or capitalist class. He saw them as a tool that could be used to manipulate trade for the benefit of the capitalists at the expense of workers and consumers, leading to higher prices and less economic efficiency.

Support for Protective Tariffs in Developing Economies: On the other hand, Marx acknowledged that tariffs could play a role in protecting infant industries in developing countries. This view aligns somewhat with the ideas later formalized by economists like Friedrich List, who argued that developing economies might need to implement protective measures temporarily to build up their industrial base and compete with more established economies.

Political and Economic Context: Marx’s views on tariffs cannot be fully understood outside of his overall critique of capitalist economic structures and his advocacy for socialism. He believed that while tariffs could sometimes be justified within the logic of a capitalist economy (like protecting nascent industries or retaliating against economic aggression from other nations), they ultimately perpetuated the inequalities and inefficiencies of capitalism.

In summary, while Marx was generally critical of the capitalist use of tariffs for protectionist and nationalist purposes, he recognized that under certain conditions, tariffs could be a necessary tool for economic development in less advanced economies. His ultimate goal, however, was a move towards a socialist society where such mechanisms would be rendered obsolete by the planned and equitable distribution of resources and production.

 

 

 

Joe Biden put tariffs on EVs from China and kept all of Trump's tariffs in place. 

Edited June 24, 20242 yr by TedG

Quote

Under Biden's administration, notable economic achievements include low unemployment rates, with April marking the 27th consecutive month of unemployment rates below 4 percent, the longest streak since the 1960s.

 

 

 

From The Economist 

 

Joe Biden is more responsible for high inflation than for abundant jobs

The main effect of the president’s economic policies has been to boost prices

 

https://www.economist.com/leaders/2023/05/11/joe-biden-is-more-responsible-for-high-inflation-than-for-abundant-jobs

 

 

11 minutes ago, TedG said:

 

 

 

From The Economist 

 

Joe Biden is more responsible for high inflation than for abundant jobs

The main effect of the president’s economic policies has been to boost prices

 

https://www.economist.com/leaders/2023/05/11/joe-biden-is-more-responsible-for-high-inflation-than-for-abundant-jobs

 

 

Over a year old Whataboutary.

 

The US economy has changed dramatically in the more than one year since that article was published.

 

 

 

 

13 minutes ago, Chomper Higgot said:

Over a year old Whataboutary.

 

The US economy has changed dramatically in the more than one year since that article was published.

 

 

 

 

Why is it Whataboutary?  

2 minutes ago, TedG said:

Why is it Whataboutary?  

Refer to the title of the OP.

 

Refer to the current economy.

 

He always does this: he pulls something out of his butt in public and then someone over-intellectualizes and he is credited with making novel socio-economic suggestions.  Sometimes satire writes itself.

Does this with the press, too: he tosses out some numbers and nonsense, the fact checkers have to go work on it.  He knows the less press is looking at his workings the better his chances of getting away with his shenanigans.  Not a brilliant strategy, but it is clever.

He tosses the stick and is saying "Go, fetch!" when he does stuff like this.

 

Trump makes a better clown than ring master!

2 hours ago, Social Media said:

"The MAGA [Make America Great Again] die-hard voices that have Mr. Trump's ear often share more in common with the far left than with the traditional Republican Party," Sonnenfeld wrote.

 

interesting. 

I'd say more fascist than communist.

"In a provocative guest essay published by The New York Times"...  this says it all about this hit piece to prop up joe and his loser "bidenomics"

Let's see....."10% tariffs and elimination of Income Tax"

 

Okay, then just add a straight up $4,000,000,000,000 to the National Debt each year, plus the vig on that plus existing debt, and in 4 years (provided the felon doesn't declare himself Your Favorite President for Life), the bloated one will have rung up at least an additional $20,000,000,000,000 in his term.

 

Alternatively, if he wanted to have tariffs make up 100% of existing tax revenues, the rate (based on import totals) would have to be tariffs of about 130%.

 

Imports are everywhere, but in some places (e.g., Walmart), imports are just about all there is.

 

Who shops at Walmart? MAGAs mostly, so their Favorite President" will be killing them in the pocketbook or manbag. They won't even be able to afford the Chinese dog food or baby formula loaded with melamine.

 

Those who might dispute this can go to government websites, collect all the import data and parse it against income tax revenues. Set up an equation and adjust the tariff rate until income tax goes to zero.

 

Enjoy Felonomics!

So not only is Trump supposed to be Putin's stooge, He now espouses Communist economics.  Another Dem hit piece. Talk about Trump derangement syndrome! 

3 hours ago, TedG said:

 

 

Let's look up Karl Marx's view on tariffs. 

 

From ChatGPT

 

Karl Marx had a nuanced view on tariffs. His stance was largely influenced by his broader economic theories and the context of the economic and political situations of his time.

Criticism of Capitalist Tariffs: Marx was critical of tariffs when they were used in capitalist economies to protect the interests of the bourgeoisie or capitalist class. He saw them as a tool that could be used to manipulate trade for the benefit of the capitalists at the expense of workers and consumers, leading to higher prices and less economic efficiency.

Support for Protective Tariffs in Developing Economies: On the other hand, Marx acknowledged that tariffs could play a role in protecting infant industries in developing countries. This view aligns somewhat with the ideas later formalized by economists like Friedrich List, who argued that developing economies might need to implement protective measures temporarily to build up their industrial base and compete with more established economies.

Political and Economic Context: Marx’s views on tariffs cannot be fully understood outside of his overall critique of capitalist economic structures and his advocacy for socialism. He believed that while tariffs could sometimes be justified within the logic of a capitalist economy (like protecting nascent industries or retaliating against economic aggression from other nations), they ultimately perpetuated the inequalities and inefficiencies of capitalism.

In summary, while Marx was generally critical of the capitalist use of tariffs for protectionist and nationalist purposes, he recognized that under certain conditions, tariffs could be a necessary tool for economic development in less advanced economies. His ultimate goal, however, was a move towards a socialist society where such mechanisms would be rendered obsolete by the planned and equitable distribution of resources and production.

 

 

 

Joe Biden put tariffs on EVs from China and kept all of Trump's tariffs in place. 

Interesting comment. 

However, the reality is just that Trump implemented tariffs because it was a simple enough policy for him to understand it.

6 hours ago, gargamon said:

I'd say more fascist than communist.

Yes, his instincts are those of a control freak - authoritarian, nationalist & racist. The job of his staffers is to make him seem quasi-sensible.

Here is what Trump has done for America!: Only 13 Presidents failed to get re-elected. Only 5 Presidents failed to win the popular vote. Only 4 Presidents have been impeached or resigned. Only 1 President has ever been criminally indicted. And only ONE President has done ALL FOUR. -

DJT didn't lower taxes (He deferred them) -

He didn't get Americans that healthcare coverage -

He did not unite the USA, he divided it -

He didn't lower prescription drug prices -

He didn't get roads or bridges built He didn't decrease the deficit -

He didn't end the opioid crisis -

He made over 250 visits to his golf clubs costing us taxpayers $150 million -

He didn't revive the coal industry -

He didn't make covid-19 'disappear' He didn't make Mexico pay for the wall 

He is ranked the worst President in history 

He added $2 Billion a month in tariff costs to the American consumer

He has a net-negative jobs creations for his administration 

He decreased corporate taxes, passing the tax burden to the workers 

He added $ 7.8 Trillion to the deficit - a full 25% of the total deficit 

He incited an insurrection against our government 

He is the only president to never achieve 50% approval. 

He didn't put "America first" and he sure didn't "Drain the Swamp... 

He left office with the worst job numbers of any President since the Great Depression with a net job loss over his term 

He is the first former president to be a CONVICTED FELON (34 times). 

The presidency is very much about character. Trump is a lowlife convicted felon.

 

Who gives an EFF?    Nothing you or I can do, either pro or con with the situation.  This is very simply Journalism at its whore-mongering worse.  An attempt of sensualism to garner profits and viewers.  
 

 

11 hours ago, TedG said:

 

 

Let's look up Karl Marx's view on tariffs. 

 

From ChatGPT

 

Karl Marx had a nuanced view on tariffs. His stance was largely influenced by his broader economic theories and the context of the economic and political situations of his time.

Criticism of Capitalist Tariffs: Marx was critical of tariffs when they were used in capitalist economies to protect the interests of the bourgeoisie or capitalist class. He saw them as a tool that could be used to manipulate trade for the benefit of the capitalists at the expense of workers and consumers, leading to higher prices and less economic efficiency.

Support for Protective Tariffs in Developing Economies: On the other hand, Marx acknowledged that tariffs could play a role in protecting infant industries in developing countries. This view aligns somewhat with the ideas later formalized by economists like Friedrich List, who argued that developing economies might need to implement protective measures temporarily to build up their industrial base and compete with more established economies.

Political and Economic Context: Marx’s views on tariffs cannot be fully understood outside of his overall critique of capitalist economic structures and his advocacy for socialism. He believed that while tariffs could sometimes be justified within the logic of a capitalist economy (like protecting nascent industries or retaliating against economic aggression from other nations), they ultimately perpetuated the inequalities and inefficiencies of capitalism.

In summary, while Marx was generally critical of the capitalist use of tariffs for protectionist and nationalist purposes, he recognized that under certain conditions, tariffs could be a necessary tool for economic development in less advanced economies. His ultimate goal, however, was a move towards a socialist society where such mechanisms would be rendered obsolete by the planned and equitable distribution of resources and production.

 

 

 

Joe Biden put tariffs on EVs from China and kept all of Trump's tariffs in place. 

yeah but this article is meant to appease the Biden fans. How dare you ruin it for them

5 minutes ago, NORDO said:

Who gives an EFF?    Nothing you or I can do, either pro or con with the situation.  This is very simply Journalism at its whore-mongering worse.  An attempt of sensualism to garner profits and viewers.  
 

 

Don't think it is journalism but an op-ed piece whereby the writer presented very strong and informed opinion for his proposition that Trump is more communist than capitalist in his policies. 

7 minutes ago, Eric Loh said:

Don't think it is journalism but an op-ed piece whereby the writer presented very strong and informed opinion for his proposition that Trump is more communist than capitalist in his policies. 

You make a good point. Some of his policies are bizarre, at best. But do not expect a calm and reasoned response from his devotees. They are very defensive and share some of their Master's level of intolerance. 

15 minutes ago, spidermike007 said:

You make a good point. Some of his policies are bizarre, at best. But do not expect a calm and reasoned response from his devotees. They are very defensive and share some of their Master's level of intolerance. 

The whole Maga movement share some common features of communism. Stalin condemned abortion, Mao burn books and raised views at odds with historical events. Communists are also intolerance of dissents. 

Edited June 25, 20242 yr by Eric Loh
wrong word

8 hours ago, candide said:

Interesting comment. 

However, the reality is just that Trump implemented tariffs because it was a simple enough policy for him to understand it.

'yes, but zero recognition of the damage (lack of knowledge) to the US pricing structures e.g. forced to fork our billions to subsidise the agriculture sector.

12 hours ago, TedG said:

 

 

 

From The Economist 

 

Joe Biden is more responsible for high inflation than for abundant jobs

The main effect of the president’s economic policies has been to boost prices

 

https://www.economist.com/leaders/2023/05/11/joe-biden-is-more-responsible-for-high-inflation-than-for-abundant-jobs

 

 

That critique would be valid if in fact most of the other economically developed nations also hadn't experienced high inflation. In fact, the US is performing far better than the economies of other economically developed nations.

Edited June 25, 20242 yr by placeholder

1 hour ago, NORDO said:

Who gives an EFF?    Nothing you or I can do, either pro or con with the situation.  This is very simply Journalism at its whore-mongering worse.  An attempt of sensualism to garner profits and viewers.  
 

 

Within the realm of the propaganda war that has become the basis of almost everything presented to an ever more manipulated digital audience you are correct n the sense that it is not worthy of even an EFF. But with consideration to the numbers of those who eventually lay bets on one puppy or the other and then wait to learn if an institution called the Electoral College counts in favour!

Monetarism/Corporatism is the latest face of any promoted  system of authoritarian dictate.

 

 

 

 

1 hour ago, simple1 said:

'yes, but zero recognition of the damage (lack of knowledge) to the US pricing structures e.g. forced to fork our billions to subsidise the agriculture sector.

That seems to be the same all over the world.

6 hours ago, spidermike007 said:

Here is what Trump has done for America!: Only 13 Presidents failed to get re-elected. Only 5 Presidents failed to win the popular vote. Only 4 Presidents have been impeached or resigned. Only 1 President has ever been criminally indicted. And only ONE President has done ALL FOUR. -

DJT didn't lower taxes (He deferred them) -

He didn't get Americans that healthcare coverage -

He did not unite the USA, he divided it -

He didn't lower prescription drug prices -

He didn't get roads or bridges built He didn't decrease the deficit -

He didn't end the opioid crisis -

He made over 250 visits to his golf clubs costing us taxpayers $150 million -

He didn't revive the coal industry -

He didn't make covid-19 'disappear' He didn't make Mexico pay for the wall 

He is ranked the worst President in history 

He added $2 Billion a month in tariff costs to the American consumer

He has a net-negative jobs creations for his administration 

He decreased corporate taxes, passing the tax burden to the workers 

He added $ 7.8 Trillion to the deficit - a full 25% of the total deficit 

He incited an insurrection against our government 

He is the only president to never achieve 50% approval. 

He didn't put "America first" and he sure didn't "Drain the Swamp... 

He left office with the worst job numbers of any President since the Great Depression with a net job loss over his term 

He is the first former president to be a CONVICTED FELON (34 times). 

The presidency is very much about character. Trump is a lowlife convicted felon.

 

Ouch!the felons followers ain’t gonna like the facts!face it republicans you have been had ditch the albatross 

6 hours ago, spidermike007 said:

Here is what Trump has done for America!: Only 13 Presidents failed to get re-elected.............

 

A very nice reminder list. Can never be displayed too often.

I nearly spit my trail mix out all over my desk. 

 

Typical bait & switch Propaganda by the team who persecutes & prosecutes

 their  political opposition party members!

So indicative of Hitlerism, Stalinism and Maoism.

 

To top it off the bottom source is a 2018 piece! Pre Ny city all dem concocted conviction .

 

 

https://www.oxfordeagle.com/2018/05/09/show-me-the-man-and-ill-show-you-the-crime/

Edited June 25, 20242 yr by riclag

>"These Trump positions share more in common with Karl Marx than Adam Smith,"

 

Ain't nobody buying that.  Just another hatchet job from another leftist published by the same leftist rag that claimed Hunter Biden's laptop was Russian disinformation (whatever that is).  

20 minutes ago, HalAndLois said:

>"These Trump positions share more in common with Karl Marx than Adam Smith,"

 

Ain't nobody buying that.  Just another hatchet job from another leftist published by the same leftist rag that claimed Hunter Biden's laptop was Russian disinformation (whatever that is).  

So your remark brings to mind the word Propaganda! I first learned of this term in school , history class , pre  WW 2 ,under Goebbels.

 

He was a master at manipulative news, just like the left is!

Trump is hitler and now he’s taunting communist tripe !

Its a election year in case you didnt notice!

 

“The most brilliant propagandist technique will yield no success unless one fundamental principle is borne in mind constantly - it must confine itself to a few points and repeat them over and over”.Joseph Goebbels

https://www.goodreads.com/author/quotes/281832.Joseph_Goebbels

 

methinks

 

Edited June 25, 20242 yr by riclag