Oct. 23 (UPI) — Nearly two dozen winners of the renowned Nobel Prize in economics said Vice President Kamala Harris’ economic agenda is “vastly superior” to that of the current Republican presidential nominee.
“Simply put, Harris’ policies will result in a stronger economic performance, with economic growth that is more robust, more sustainable, and more equitable,” wrote 23 Nobel Prize laureates in an open letter obtained Wednesday.
The list of 23 Nobel recipients represents more than half of the living U.S. holders of the coveted international award.
The Federal Reserve’s recent interest rate cut and September’s employment data that shows hiring has increased with a dropping rate of unemployment indicates to experts a robust U.S. economy moving in the right direction.
Economists widely view former President Donald Trump’s tariff and tax policies as inflationary and will keep expanding the already trillion-dollar federal deficit.
Meanwhile, compared to Trump’s policies, Harris would be “a far better steward of our economy,” the letter said, although both campaigns have yet to outline specifics. But Trump, they note, “threatens” the rule of law which they added is key to economic success.
Harris has made an “opportunity economy” a centerpiece of her presidential campaign that, among other things, looks at future entrepreneurs to help jumpstart small businesses, cutting inflation, price gouging and first-time homebuyer incentives.
Trump economic policies, the noted economic experts wrote, “including high tariffs even on goods from our friends and allies and regressive tax cuts for corporations and individuals, will lead to higher prices, larger deficits, and greater inequality.”
This new letter was led by the noted economist Joseph Stiglitz, a Columbia University professor who won the Nobel Prize in 2001. And it marks the second such letter Stiglitz has spearheaded with other laureates.
In June, 16 Noble Prize-winning economists also wrote that if Trump wins the presidency on Nov. 5., it will “reignite inflation.”
At the time, the Trump campaign was dismissive and critical, calling the economic experts “worthless” and “out of touch.”
“Harris’ economic agenda will improve our nation’s health, investment, sustainability, resilience, employment opportunities, and fairness,” according to this new letter.
But Wednesday’s 228-word letter is shorter, more pointed and included two of the three most recent Nobel recipients, Simon Johnson and Daron Acemoglu of the Massachusetts Institute of Technology.
“Among the most important determinants of economic success are the rule of law and economic and political certainty, and Trump threatens all of these,” the economists wrote.