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Bloomberg Television

The Economist EIC: Capitalism was on the ballot — here’s how it did 💚

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if we really say capitalism was on the ballot how did it do so there were two very different visions of capitalism on the ballot I think the Kam Harris Vision which was really an extension of the Biden Administration was a big state a state which had pushed used industrial policy actively to push for domestic jobs but which had allowed because of its very big stimulus inflation to get out of control but it’s really a kind of more protective State quite a lot of redistribution the vision that Donald Trump promises is a unleashing Elon Musk style of capitalism capitalist innov Innovation massive tax cutting getting rid of the the kind of burden of the state but also interestingly I think two elements which run counter to that the deportations which are really huge infringements on the free movement of people uh and the tariffs which are blocking competition from abroad so you know trumponomics if you will has a kind of an interesting vision of capitalism because it talks a big game about it being the free market but actually it’s not completely free and I think the the other interesting element to me is just how much this becomes a capitalism for special interests

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