Nicholas Bloom Quotes

United Kingdom, Professor
May 5, 1973

Nicholas Bloom is the Eberle Professor in the Department of Economics at Stanford University, a Courtesy Professor at Stanford Business School and Stanford Institute for Economic Policy Research, and a co-Director of the Productivity, Innovation and Entrepreneurship Program at the National Bureau of Economic Research. He is a Fellow of the American Academy of Arts and Sciences and the Econometric Society, and the recipient of the Frisch Medal in 2010 and the Bernacer Prize in 2012.

Many people who have lost out in the last few decades voted for Trump. Trump will have a difficult time turning them into winners. The jobs of these people are not at risk because of Chinese or Mexican workers, but because of robots and computers. And new trade barriers and higher tariffs are not going to change that.

Nicholas Bloom
- Workers
- Robots
- Tariffs
Trump can, like every government, trigger a short boom with borrowed money, just like he has announced. He appears to want to adopt the economic policy approach favored by Republicans of putting lots of money into building roads and cutting taxes. Markets like that. But, at the end of the day, someone always has to foot the bill.

Nicholas Bloom
- Money
- Taxes
- Markets

Political stability was at most a factor in assessing developing countries or Russia. It is now also an issue in Western democracies.

Nicholas Bloom
The rise of populist parties such as the Five Star Movement in Italy and the Front National in France are rocking the political certainties of the last decades. And that also affects the economy.

Nicholas Bloom
- Economy
- Affect
- Parties
The high-tech industry needs the immigration of highly qualified labor, from India, from China, from everywhere.

Nicholas Bloom
- Industry
- Labor
- High-Tech
Once Brexit has actually been implemented, the world will be a very different place.

Nicholas Bloom
- World
- Brexit
- Implemented
If you leave school at 16 then, in all probability, there is a machine that can do what you can do better and cheaper. And Trump can't do anything to change that.

Nicholas Bloom
- Better
- Machine
- Cheaper
Decreasing economic growth and increasing inequality leads to increased uncertainty.

Nicholas Bloom

Elections themselves do not necessarily lead to more corporate uncertainty - quite the reverse, stable democracies create a reliable environment. And elections have caused hardly any change in the basic economic framework in the last few decades.

Nicholas Bloom
Politics has become very unpredictable, making things so very difficult for individuals and also for companies.

Nicholas Bloom