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Direct economics — the great Maga experiment

The arbitrariness of the tariffs is a feature not a bug in the plan to short-circuit the financial establishment

The writer is author of the forthcoming book ‘Hayek’s Bastards: The Neoliberal Roots of the Populist Right’

For years, rightwing populist parties have used forms of direct democracy to pursue their goals. From the referendums banning minarets in Switzerland to the Brexit vote, the idea has been to short-circuit the establishment and tap straight into popular will. In the United States, Maga is now experimenting with something different: direct economics. 

Similar to plebiscites and referendums, direct economics seeks to do an end run around experts and incumbents and communicate straight to individual citizens and voters. It tries to demystify what have long been naturalised processes captured in stock market indices, interest rates and even fiat currency, to expose these as mere tools of the elites in further oppressing the true people.

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