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Nicholas Bloom

Nicholas Bloom Biography

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“The U.S. and, to a certain extent, countries in Europe as well, have experienced growing inequality within their population for decades - a small group of people own the lion's share of the wealth. Populists take advantage of this, and their policies are extremely hard to predict. And this has serious consequences. Companies shy away from risk, postponing their investment decisions in times of uncertainty, the stock markets get nervous and unemployment threatens to increase.”

PeopleWellsCountryHardCertainWealthDecisionCompanyGrowingRiskGroupsSharePolicySeriousConsequenceEuropeAdvantageIncreaseInvestmentPopulationDecadesNervousInequalityUncertaintyShyLionsUnemploymentSmall GroupsPopulistPostponing
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“Trump can, like every government, trigger a short boom with borrowed money, just like he has announced. He appears to want to adopt the economic policy approach favored by Republicans of putting lots of money into building roads and cutting taxes. Markets like that. But, at the end of the day, someone always has to foot the bill.”

WantEndsGovernmentCuttingFeetEconomicPolicyBuildingTrumpRepublicanTaxesApproachBillsThe End Of The DayLots Of MoneyTriggersBorrowedEconomic PolicyBorrowed MoneyBuilding Roads
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“Many people who have lost out in the last few decades voted for Trump. Trump will have a difficult time turning them into winners. The jobs of these people are not at risk because of Chinese or Mexican workers, but because of robots and computers. And new trade barriers and higher tariffs are not going to change that.”

PeopleJobsLastsLostDifficultRiskTrumpHigherComputerTradeWorkersDecadesChineseWinnerBarriersRobotsMexicanDifficult TimesTariffs
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“Political uncertainty around the world has more than doubled since the election of Trump. To find anything comparable we have to go way back, to the late 1920s for example, the times of the Great Depression. Or think of the United Kingdom in the 1970s, when the International Monetary Fund had to help the country out with a dramatic rescue operation. Up until the Greek crisis, that was the last time that the IMF was forced to intervene to such an extent in Europe.”

ThinkingWorldWayCountryHelpingLastsPoliticalUnitedExampleTrumpLateEuropeElectionCrisisInternationalKingdomsAround The WorldUncertaintyOperationsGreekDramaticFundRescueLast TimeMonetaryGreat DepressionUnited KingdomImf
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