(Mallorca): the Business community is ecstatic over Donald Trumps næringsvennlige politics, and it will lift the growth, predicts Harvard professor Kenneth Rogoff.
Strong growth
I think there is room for the economy to grow quite strongly over the next few years, says Kenneth Rogoff, who is a speaker at the Skagen To the nyttårskonferanse in Oslo today.
According to Finansavisen think Rogoff, that growth in 2018 may reach three per cent the year as a whole.
I expect that the economy will be surprisingly strong. I say it, for so many economists hate Trump so strongly – and I don’t like him – that they can’t imagine anything other than disaster. “The economy will fall through the floor, and it will be the end of the world.” It can happen, but not in years, ” says Rogoff, according to Finansavisen.
Supply and demand
” We must be cautious as we do not provide a pure keynesian approach to Trumps program. It is a tilbudsside and a etterspørselsside, not just demand. I think the area where the Trumps politics probably will have the greatest impact, is through the ongoing downscaling of the operations of the regulations that Obama introduced, ” says the Harvard professor.
I think the whole idea of secular stagnation will be forgotten about in ten years. The whole idea that technology is dead and there will be more innovation is purely sludder. I’m much more afraid that technological changes will occur so quickly that we are not able to accommodate us as people, than that they will happen slower, ” says Rogoff, according to Finansavisen.
No Trump-supporter
Rogoff emphasizes that he is not some Trump-supporter, and that what he says about the economy is not to be taken as a support to the president.
- My concerns about him acting much more that he goes further than what the presidency gives power to his capricious behaviour. There are deep concerns, ” says Rogoff.
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