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Quote of the Day: Ramaswamynomics
“During the only stable dollar eras of the last century, annual GDP growth averaged 4.9% in 1922-29, 4% in 1948-71, and 3.7% in 1983-2000. The volatile dollar from 2000 to 2022 saw average growth of a paltry 1.9%. Had the dollar remained stable since 2000, with an enduring 3.7% growth, the economy would be nearly 50% greater than it is today, and we would have avoided multiple financial crises along the way.” – Vivek Ramaswamy, The Wall Street Journal, 05/01/2023
That quote was from an article titled “Prosperity Requires a Stable Dollar,” which should be required reading for all Republican Presidential candidates.
Is it possible a major contributor to the current craziness is 23 years of bad economic policy? (Policy was better for a brief time during the Trump years, but Trump didn’t have to clear a high bar.)
Dr. William S. Smith is Senior Fellow & Director of Pioneer Life Sciences Initiative. Dr. Smith has 25 years of experience in government and in corporate roles. His career includes senior staff positions for the Republican House leadership on Capitol Hill, the White House Office of National Drug Control Policy, and the Massachusetts Governor’s office where he served under Governors Weld and Cellucci. He spent ten years at Pfizer Inc. as Vice President of Public Affairs and Policy where he was responsible for Pfizer’s corporate strategies for the U.S. policy environment. He later served as a consultant to major pharmaceutical, biotechnology and medical device companies. Dr. Smith earned his PhD in political science with distinction at The Catholic University of America.
Helping students to understand the outcomes of their assumptions.
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