More or Less: Behind the Stats The mistake in Trump’s tariff formula
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Apr 9, 2025 Discover the miscalculations behind Trump's tariff policies and their broader economic effects. Uncover the challenges of accurately counting police presence and the implications for community safety. Dive into local tax debates in Wandsworth, where humor meets serious policy discussions, notably around council tax freezes. Plus, learn about the fascinating genetics of redheads and their surprisingly higher pain tolerance. This mix of serious stats and lighthearted topics keeps the conversation engaging!
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Error in Trump's Tariff Formula
- The US tariff formula mistakenly uses parameters that multiply to one, effectively ignoring trade elasticity in calculations.
- This causes tariffs to be about four times higher than necessary, risking severe economic consequences.
Trade Deficits Linked to Savings
- US trade deficits are driven by domestic savings and investment imbalances, not tariffs.
- Tariffs cannot fix trade deficits without changes in US macroeconomic behavior.
Fewer Neighbourhood Police Than Thought
- The count of UK neighbourhood police officers was inflated by misclassifications during austerity.
- After correction, numbers fell by around 21%, revealing fewer officers "on the beat."