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Wednesday, June 26, 2019
Peter Navarro who fails to pass the undergraduate exam

Question: Recently, President Trump awarded the economist Arthur Laffer. Laffer is best known for proposing the so-called "Laffer curve", a concept that proposes tax cuts can increase the government revenue. This idea is what the Republicans believe in, though almost all economists claim that it is a form of pseud-economics. Larry Kudlow, Trump's current director of the Economic Affairs Office, is an "economist actor". He is not an economist, but considers himself one. However, Navarro is still worse than Kudlow. Navarro is the so-called economist in the science class, yet American economists often consider him as someone who has failed to pass his undergraduate exam. Are these American economists discriminating against the economists working for the U.S. government? Is this true? Or are they just fooling around?

Chan Kung: We can't ignore the fact that these amateur economists are doing a good job, as evidenced by the fact that the U.S. economy is at its peak now. The U.S. economy is a theoretical and self-contained system that deviates from the reality. Economic policies and theories are not always on the same track, so there are phenomena where the amateurs outperformed the gurus in economic theories.

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