Joseph Stiglitz, a Nobel Prize-winning economist, has boldly criticized Trump's tariff proposals as a misguided attempt to revive American manufacturing. In his view, trying to recreate the manufacturing boom of the 1950s in today’s high-tech world is like trying to power a smartphone with a rotary phone! 📞➡️📱
Stiglitz pointed out that companies eyeing a move to the U.S. are facing major challenges, from shaky supply chains to outdated logistics systems. In an era where robotics and automation dominate production, the promise of extensive job creation simply doesn’t add up. Instead, these tariffs could end up disrupting supply chains and limiting access to essential goods.
This critique is a wake-up call for young entrepreneurs, students, and anyone interested in modern economics. The message is clear: policies need to evolve with the times, or risk leaving everyone behind in a rapidly changing global market.
Reference(s):
Nobel Prize-winning economist Stiglitz slams Trump's tariff plan
cgtn.com
