The shift of industrial production abroad and the corresponding reallocation of American resources into the service sector arguably provided aggregate benefits in periods of geopolitical calm. But ultimately the strength of the defence-industrial base is closely tied to the health… — Scott Bessent Copy Share Image
If Vice President Albert Arnold Gore, Jr. had won his home state of Tennessee on November 7, 2000, he would have become president of… — Scott Bessent Copy Share Image
Our firm: We study history. We think about the future. We try to analyze what's going on in the present. — Scott Bessent Copy Share Image
Tariffs can't be inflationary because if the price of one thing goes up, unless you give people more money, then they have less money… — Scott Bessent Copy Share Image
President Trump's first-term tariffs did not raise the prices of the affected goods, despite predictions back then that the tariffs would prove inflationary. Indeed,… — Scott Bessent Copy Share Image
We are stretching our nation's finances and creditworthiness so thin that we may find ourselves unable to afford to defend our interests around the… — Scott Bessent Copy Share Image
Treasury Secretary Janet Yellen has distorted Treasury markets by borrowing more than $1 trillion in more-expensive shorter-term debt compared with historical norms. Terming out… — Scott Bessent Copy Share Image
The original sin of Bidenomics was the American Rescue Plan, which became law in March 2021. — Scott Bessent Copy Share Image
Used strategically, tariffs can increase revenue to the Treasury, encourage businesses to restore production and reduce our reliance on industrial production from strategic rivals. — Scott Bessent Copy Share Image
Academic economists have consistently discredited themselves by wrongly warning against the policies of President Trump. — Scott Bessent Copy Share Image
Allowing the private sector rather than the government to allocate capital is crucial to growth. — Scott Bessent Copy Share Image
Despite its many flaws, abandoning the international trading system would be a major economic and strategic mistake. Instead, the United States must adopt policies… — Scott Bessent Copy Share Image
