Method in the madness? QE’s economists explore the impact of Donald Trump’s policies
The shadow of the 47th president of the USA looms large over the latest edition of The Econobethan – QE’s pupil-run Economics journal.
Under the overall theme of International Relations, the 24th edition of the publication includes a special front section headed Has Trump damaged the dollar? which looks at the impact of tariffs and at the dollar’s role as the world’s reserve currency.
Articles in the main body of The Econobethan mostly home in on specific nations, examining, for example, the economic cost of India and Pakistan’s damaged relations, or how recent problems have harmed the reputation of China’s Belt and Road Initiative.
Citing the maxim of US founding father Benjamin Franklin that ‘no nation was ever ruined by trade’, Economics teacher and Enrichment tutor Celia Wallace said: “This is a rich and thought-provoking edition, offering a range of perspectives on how nations interact and the economic outcomes of those interactions.”
The 50-page edition was overseen by the Year 12 editorial team of Zain Ahmed, Shourya Garg, Adithya Raghuraman and Shuban Singh.
In their introduction, they write: “The first section of the edition focuses on one of the more recent, prevalent points of contention in international relations debates…
“The articles in this section argue for and against Trump’s international policy, specifically focusing on its effect on the dollar.”
Among the writers here is Year 11 GCSE economist Vu-Lam Le-Nguyen, whose piece is entitled: The Method Behind the Madman Theory: how President Trump’s second-term agenda has affected the US dollar. He begins by explaining that the Madman Theory, also known as the Unpredictability Doctrine, is not without precedent, having reportedly been adopted by President Nixon, too. After setting out some of Donald Trump’s decisions, and his ‘promises of bold economic growth’ occurring at the same time as a $2.8 trillion jump in national debt, Vu-Lam says he hopes to ‘shed light on the rationale behind this apparent madness’.
Regarding the main section, the editorial adds: “Articles focus on the development of relationships, including the formation of the UN and the UK’s international status as both an empire and a leader of diplomacy.
“They also consider the economic vulnerability of nations when relations falter, such as the breakdown of trade blocs and the effects on landlocked nations. This edition helps to show the complexities of international relations as well as the domino-like knock-on effects of unsuitable international policy.”
Contributors come from Years 9–11. Many illustrate their articles with tables and graphs.
Others, such as Year 11 GCSE economist Aayush Shukla, in his piece on China’s economic history (From Footprints to Footing: The Evolution of China), or his fellow Year 11 pupil, Noah Morley, on his historical exploration of Japan’s relationship with Europe (Japan’s Evolving Relationship with Europe), use photographs or reproductions of paintings.
- The Econobethan may be read here.