Former US Treasury Secretary Larry Summers has diagnosed the current state of the economy as an “iatrogenic illness.” This term describes a condition of ill health or adverse effects caused by medical treatment, often arising from errors in diagnosis or care. In this case, the deterioration of the US economy can largely be attributed to the misguided policies of the current administration. So, how do we address this critical issue? Summers suggests that a significant step forward could be as straightforward as the administration reevaluating its tariff policies. The turbulence witnessed in recent stock market sessions and the emerging risks threatening our economic stability may be rooted in a disregard for fundamental economic principles. The pressing question we must confront is: how long must we wait for a decisive course correction? It’s time for action to restore the health of our economy before it’s too late.
