The New Dark Age

Wednesday, 23 April 2025 — The Planning Motive

There is beginning to be sufficient evidence to draw tentative estimates of who is winning the war. This article examines the initial results. The real difficulty lies with Trump himself because he changes his positions virtually daily making commenting on developments awkward.

Let’s begin with posing the question, what would a level headed and rational President have done to reverse the deindustrialization of the US economy. Firstly, such a President would have been patient recognizing it could not be done overnight. Secondly, that it needed to be targeted, bit by bit, particularly key industrial inputs. Thirdly, that before any tariffs are introduced there would have to be support for the targeted industry to bring down its operating costs. Fourthly the physical infrastructure would need to be improved to reduce cost prices. Fifthly there would need to be an improvement in the human infrastructure through improving education and training. Sixthly, the Whitehouse, Congress and the FED would have to work closely to ensure money remained cheap. Finally, a recognition that tax increases would be needed to fund an industrial policy, to reduce the deficit and keep a lid on interest rates. Only then could tariffs be applied step by step.

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