Reflections on Donald Trump’s Election

As the markets and pundits react to Donald Trump’s enormous upset victory, let me offer my own reactions. As an economist, I will focus on matters pertaining to economic policy.
The Danger of Hubris and Denial. Everybody recognizes that the “experts” and polls were totally wrong. Indeed, I was listening to NPR around 6 p.m. Eastern time on Election Night, and these commentators were all but speculating on President Clinton’s Cabinet. Later, around midnight, I was curious how NPR’s anchors would handle the blow. I am only slightly exaggerating when I say that the explanation was, “Trump motivated more bigots than

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