Nigeria, Jan. 27 -- Following its inauguration last week, the Trump Administration in the US is set to introduce the world to alt-economic policies. The agenda includes increasing the incidence and severity of tariffs, restructuring the revenue collection system by de-emphasising the Internal Revenue Service in favour of an External Revenue Service, promoting the return of manufacturing activities to the continental US, and focusing on the re-industrialisation of the country. Each of these policies, in its way, upends economic orthodoxy. Start with the tariffs. Mr Trump is not a fan of David Ricardo. In his worldview, nations fail when they focus resources solely on industries where they have the highest production efficiency relative to ...
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