Why America gave up on economists

Key takeaways • Economists used to have a sort of special status in US policymaking; they were the consummate technocratic experts. • But over the past decade, both parties have increasingly been less enamored of economists — and economic thinking in general. • The reasons for this include Trump and Biden’s personalities, the rise of populist MAGA and progressive factions, plus structural changes in the economy and the information environment. • The consequences: more policies that economists dislike on the merits like tariffs and price controls — and also more badly designed policies that simply haven’t taken economic analysis into account. • Economists will only regain influence if political elites think they can help solve major problems, but right now they’re somewhat at a lo