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Introduction

Economists have played a critical role in shaping public policy on significant issues such as taxes, health care, and trade. However, their influence has waned in recent years, often overshadowed by polarized political narratives and decisions that challenge traditional economic principles. Recently, during the American Economic Association’s annual meeting in San Francisco, a consensus emerged among economists about their diminishing role in policymaking, especially regarding trade and immigration—topics that are increasingly defined by political agendas rather than economic theories.

Conservative Perspective

Conservatives often praise former President Donald Trump for challenging the status quo of global trade and immigration walls. Supporters argue that tariffs, while controversial, have brought attention to unfair trade practices, addressing longstanding issues of trade imbalances. Trump’s stance, viewed by many conservatives as pragmatic and protective of American interests, resonates with voters who see jobs leaving American shores. Furthermore, on immigration, the conservative base applauds Trump’s hardline stance as a necessary measure to secure borders and prioritize American workers amid a rapidly changing economy. Critics argue that the global economic landscape requires decisive moves that sometimes mean rebuffing traditional recommendations from economists.

Liberal Perspective

From a liberal standpoint, the current political mistrust of economists is seen as misguided. For decades, economists have heralded free trade as a means of fostering innovation and growth, encouraging countries to thrive through mutual cooperation. Liberals argue that the Trump administration’s focus on tariffs contradicts these principles—resulting in trade wars and increased consumer prices. Moreover, immigration, another economic cornerstone, is viewed as an essential driver of both innovation and demographic stability. Liberals advocate for policies that embrace diversity and inclusion, criticizing movements that appear protectionist and isolationist. They argue that economists, with their robust data and analyses, should not be sidelined by fear-based political rhetoric.

Conclusion

The debate over the relevance and influence of economists in policymaking continues, pointing to a broader struggle between evidence-based policy and populist strategies. As political leaders on both sides craft agendas that occasionally overlook economic consensus, the question remains: Can economists reinvent their role to regain influence, or will their voices be drowned in the increasingly polarized political landscape?