[Ed. – You just know when you see the title how far out of left field this one is going to be. The presumption that the economy is not a fluid phenomenon — which the Democrats are now claiming, insinuating that Trump’s economy owes its success to Obama — is as absurd as the author’s failure to mention the calamities that arise out of taxing only the rich or imposing tight regulations on business.]
Joe Biden has consistently held a wide polling lead over US President Donald Trump ahead of November’s election. But, despite Trump’s botched response to the COVID-19 pandemic – a failure that has left the economy far weaker than it otherwise would have been – he has maintained a marginal edge on the question of which candidate would be better for the US economy.
The presumption that Republicans are better than Democrats at economic stewardship is a longstanding myth that must be debunked. In our 1997 book, Political Cycles and the Macroeconomy, the late (and great) Alberto Alesina and I showed that Democratic administrations tend to preside over faster growth, lower unemployment, and stronger stock markets than Republican presidents do.
In fact, US recessions almost always occur under Republican administrations. …