President-elect Donald Trump’s methods and tactics are anything but conventional, and this is particularly true as a politician. Those who have been in Trump’s place in the past have sought to appear as to not abuse their powers as president, but Trump — even before he has taken power — is using the full force of the office of the president to ensure he forces businesses into negotiations which otherwise would not have taken place. The behavior of Trump has been noticed by a Nobel Prize winning economist who harkened Trump’s behavior to that of German dictator Adolph Hitler.
The Nobel Prize Winning economist is Edmund Phelps who did not attempt to spare the world his true feelings on Trump’s rise to power:
There is the assumption that by bullying corporations, such as Ford, and stepping into aid other corporations, such as Google, the Trump administration can achieve various objectives that will widely boost output and employment. But this is an expansion of corporatist policy of a kind not previously seen since the German and Italian economies of the 1930s. If history is a guide, by expanding protection and interference in the business sector, the Trump administration may very well block the innovation of outsiders and newcomers more than it would stimulate the innovation among the innovators.
The Trump government is threatening to drive a silver spike into the heart of the innovation process. Hitler, I can’t refrain from mentioning, by controlling the economy, caused productivity growth to stagnate in the second half of the 1930s.
History may well be slowly repeating itself before our very eyes, but will we be strong enough to face the challenges? History is repeating, and it will also judge all of us if we stay quiet and complicit.