by Joseph T. Salerno
Donald Trump has announced his economic advisory team and unveiled a preliminary broad brush economic program that his prospective administration would implement. He has promised to fill in the details of his America First Economic Plan as the election approaches. So how should we grade his choice of advisers and his economic plan at this point?
Trump’s thirteen-man economic advisory team has more current or former CEOs (4), more billionaires (5), and more guys named Steve (6) than it does former academic economists with a PhD (1). And the lone academic economist, Peter Navarro, while a Harvard PhD is a faculty member at the University of California at Irvine, hardly an elite institution. As the title of one article harrumphed, “Trump’s economic team has a lot of billionaires, very few economic experts.” But this, of course, is all to the good.