This is exciting news for those of us that became Republicans during the Reagan years: President Trump has reportedly selected Larry Kudlow as his new chief economic adviser - succeeding Gary Cohn.
Kudlow, a committed free trader and former Democrat who served in the Reagan administration, is expected to start within the next few days.
I became political active during the Ronald Reagan administration. I always considered my choice to become a Republican to be a practical one; Reagan advocated for specific economic policies, implemented them over the howls of the left, and presided over years of strong economic growth.
Real per-capita disposable income increased by 18% from 1982 to 1989, meaning the American standard of living increased by almost 20% in just seven years. The poverty rate declined every year from 1984 to 1989, dropping by one-sixth from its peak. The stock market more than tripled in value from 1980 to 1990, a larger increase than in any previous decade.
Politico points out what I fear is the biggest issue: Kudlow's free-market, free trade policies clash with recent protectionist moves by President Trump.
(Kudlow) will immediately find himself in conflict with Trump advisors with strong protectionist tendencies, including trade adviser Peter Navarro and Commerce Secretary Wilbur Ross.
Given the importance of free trade to our state's economy, I assume that Iowans will welcome the appointment of Kudlow and hope that he can win internal debates with Navarro and Ross.