Letter from the Editor

摘要

As our lead article in this issue, we present a challenging, original, and brilliant essay by University of Massachusetts economist Gerald Epstein. Epstein's key point is that Trumponomics is not neo-liberal economics as usual. It is far too authoritarian and is concerned less with economic policy than with the accession of power for the wealthy. Thus, it is not his policies that should be discussed as if they stand alone but the total impact on income and wealth distribution. As an example, Trump's tax cuts can be seen as a Keynesian policy that could benefit economic growth, and even jobs and wages, in the short run. This editor thinks it will indeed be only in the short run. But the danger is ultimately that power will be even more concentrated in big business and the wealthy with long-term disadvantages for workers and productivity. Epstein goes further. Trumponomics' renunciation of climate change, a policy especially beneficial to some big corporations and Republican donors, is an example of why economists cannot ignore the "political economy" of his proposals. Not least is also Trump's disdain, along with much Republican support, for human rights in general. His policies regarding immigrants and transgender students are bright-line warnings. As I say, this article is a direct challenge especially to progressive economists to broaden their own mission and understand fully the profound consequences of Trumponomics.