A letter signed by 16 economists warning of the economic dangers of electing former President Trump has raised concerns about its credibility, as many of the signatories have a history of donating to and supporting Democratic candidates, including President Joe Biden.
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Biden's Economic Advisers Linked to Partisan Motives
A letter signed by 16 economists warning of the economic dangers of electing former President Trump has raised concerns about its credibility, as many of the signatories have a history of donating to and supporting Democratic candidates, including President Joe Biden.
The letter, first reported by Axios, has been promoted by various members of the Biden campaign on X, formerly known as Twitter. The letter's Nobel Prize-winning signatories show political donations to President Biden's 2020 and 2024 campaigns.
Biden's Economic Advisers Linked to Partisan Motives
Economist Joseph Stiglitz, the Columbia University professor who reportedly spearheaded the letter, previously signed a letter supporting Biden's Build Back Better agenda and donated $1,250 to the Biden Victory Fund in 2020. Between 2004 and 2020, Stiglitz donated over $90,000 to Democrat candidates.
Georgetown University Professor George A. Akerlof, who is married to Biden's Treasury Secretary Janet Yellen, donated $25,000 to the Biden Victory Fund and maxed out as a donor in 2020, giving the campaign $5,600.
Biden's Economic Advisers Linked to Partisan Motives
Harvard University economist and historian Claudia Goldin donated $500 to the Biden campaign in 2020 and 2024 and has donated over $8,000 to Democrats in recent years.
Economist and mathematician Eric Maskin signed a 2020 letter expressing support for the Biden campaign's agenda and donated $3,000 to Democrats in recent years.
Biden's Economic Advisers Linked to Partisan Motives
Paul Milgrom, an economist at Stanford University, also previously signed letters supporting Build Back Better and calling Trump's 2020 campaign "selfish and reckless."
Daniel McFadden, an economics professor at UC Berkeley, donated at least $4,500 to Democrats in 2020.
Biden's Economic Advisers Linked to Partisan Motives
Roger Myerson, an economist at the University of Chicago, donated $2,350 to the Biden campaign in 2020 and $250 in 2024 on top of donating over $40,000 to Democrats between 2004 and 2024.
Economist Edmund S. Phelps wrote an article in 2020 called "The Economic Case for Biden" and also said that everything Trump has stood for in the past has been a "disaster."
Paul Romer, an economist at Boston College, has previously described the Trump years as "miserable" and publicly supported his impeachment.
Stanford University economist Alvin Roth also signed multiple letters opposing Trump and supported the letter that referred to him as "selfish and reckless" on top of donating $1,250 to presidential candidate Barack Obama in 2008.
Nobel Prize-winning economist William Sharpe donated $500 to the Biden campaign and $500 to the Biden Victory Fund in 2020.
Robert Shiller, a Yale University economist, donated $1,000 to the Biden Victory Fund in 2020 and over $20,000 to Democrats in total in recent years.
Princeton University economist Christopher Sims donated $500 to the Biden Victory Fund in 2020 and over $9,000 to various Democrats.
Tim Murtaugh, who served as Trump's 2020 campaign spokesman, mocked the report on social media Tuesday, saying, "How amazing that this happens just in time for Biden to reference it in the upcoming debate (it's a good bet that he does)."
"It's almost as much of a stroke of luck as the letter from 51 intelligence officers claiming that Hunter's laptop was Russian disinformation," Murtaugh continued. "Amazing."
Axios did not note the previous political activism of the economists in the story nor did it note that one of the top signatories is married to Yellen.
