By 4 To 1 Margin, Business Economists Say Clinton Would Manage Economy Better Than Trump

(Photo by Brian Blanco/Getty Images)
(Photo by Brian Blanco/Getty Images)

By Maggie McGrath

Throughout his presidential campaign, Donald J. Trump has pledged to put “America first,” suggesting that the country’s estimated 11 million undocumented immigrants should be deported and flatly rejecting the concept of globalism. But because of the potential economic consequences of these stances, a group of business economists is now flatly rejecting him.

A policy survey of National Association for Business Economics (NABE) members released Monday shows that 55% of business economists feel that former Secretary of State Hillary Clinton would do the best job as president of managing the U.S. economy. The candidate with the next-largest percentage of the vote was Libertarian candidate Gary Johnson: 15% of NABE members said he’d do the best job managing the economy. Another 15% or respondents said they didn’t know who would be best or that they didn’t have an opinion.

Just 14% chose Donald Trump.

The survey results are remarkable because NABE members aren’t your average ivory tower-dwelling, left-leaning egg heads. They work for businesses, trade associations and government agencies across the country. As NABE director and survey chair LaVaughn Henry put it, these are people who have skin in the game.

Forbes

U.S. Companies, Try This: Raise Your Minimum Pay

And protests like this might disappear.  Photographer: Cem Ozdel/Anadolu Agency/Getty Images
And protests like this might disappear. Photographer: Cem Ozdel/Anadolu Agency/Getty Images

By Noah Smith

Recently, McDonald’s decided to raise wages for many of its hourly restaurant workers. The rise is modest, from about $9 to about $10, but already the company’s executives claim that they are seeing improvements in service quality:

“It has done what we expected it to — 90 day turnover rates are down, our survey scores are up—we have more staff in restaurants,” McDonald’s U.S. president Mike Andres told analysts at a UBS conference… “So far we’re pleased with it.”

So far the company’s financial results haven’t suffered — just the opposite; sales are rising.

With stagnant wages one of the hottest topics these days, and calls to raise minimum wages resounding across the country, stories like this one are obviously eye-catching. If raising wages improves worker performance enough to help the bottom line, then there’s no tradeoff between how much companies can afford to pay workers — at least within reason — and how many workers they can afford to employ. Obviously if you raise wages high enough — imagine mandating $1,000 an hour! — a lot of people will be put out of work. But it could be that most American companies are in a safe zone where hiking wages modestly makes economic sense.

Bloomberg View

Even at $10/barrel, oil can’t match solar on cost

World News Forum

Standard Oil Refinery No. 1 in Cleveland, Ohio Standard Oil Refinery No. 1 in Cleveland, Ohio, 1889

One of the biggest banks in the Middle East and the oil-rich Gulf countries says that fossil fuels can no longer compete with solar technologies on price, and says the vast bulk of the $US48 trillion needed to meet global power demand over the next two decades will come from renewables.

The report from the National Bank of Abu Dhabi says that while oil and gas has underpinned almost all energy investments until now, future investment will be almost entirely in renewable energy sources.

The report is important because the Gulf region, the Middle East and North Africa will need to add another 170GW of electricity in the next decade, and the major financiers recognise that the cheapest and most effective way to go is through solar and wind. It also highlights how even the biggest financial institutions in the Gulf…

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