Well, this is rich.
New York Times Magazine correspondent Robert Draper reports on what President Trump's top adviser, Steve Bannon, said at a dinner meeting in January of this year hosted by House Speaker Paul Ryan at his Capitol office with members of Trump’s inner circle (my highlight):
I think the Democrats are fundamentally afflicted with the inability to discuss and have an adult conversation about economics and jobs, because they’re too consumed by identity politics. And then the Republicans, it’s all this theoretical Cato Institute, Austrian economics, limited government — which just doesn’t have any depth to it. They’re not living in the real world.I hasten to add this is coming from a guy that holds one of the most superficial theories about how the economy and history develop. SEE: Steve Bannon’s Bizarre Documentary “Generation Zero”.
This is a guy who displays no understanding of the role that the economic basic principle comparative advantage plays in trade and how it relates to international trade. A theory that was developed more than 200 years ago and destroyed at that time Bannon's current trade view!
It is doubtful this guy could recognize the difference between the Misesian regression theorem and a Hebrew National hot dog.
That this man. who is also a Churchillian-style warhawk, is so close to the President should be a serious concern to all who appreciate sound economic and foreign policy.