What Trump DOESN’T Know About BusinessApril 1, 2016 at 11:18 am | Posted in Conceited, Disinformation, Enemies of Freedom, Presidential election | 1 Comment
Tags: Alice Crites, casino, Donald Trump, junk bonds, Paul Farhi, Robert O'Harrow Jr., Taj Mahal, Walter Fee
Trump understands: real estate (especially hotels and entertainment), entertainment, self-promotion (a type of advertising), and selling the use of his name.
Trump doesn’t understand: international trade, the effect of international trade upon jobs, manufacturing, transportation, treaties, international law.
Most of the areas of business that Trump does understand are not relevant to the tasks of a President. The only exception is self-promotion. Even in the business areas that Trump understands, his record of success has been spotty.
The areas of business that Trump doesn’t understand are critical to the tasks of a President.
But Trump will never learn to understand those areas, because he doesn’t care about facts, and he doesn’t admit to mistakes (his insecurity forbids him to admit to them, especially to himself). So he will never be able to map out what he needs to learn. Learning involves forming provisional pictures, testing them, and correcting them. His refusal to admit to errors means that he cannot do that. By his own admission, Trump habitually relies on his gut guesses rather than on knowledgeable advisors. That habit does not promote learning.
In disputes, Trump is quick to sue. He does that to intimidate, harass and threaten those who disagree with him. He learned that trick from the practices that were common in the real estate business when and where he started out.
That won’t work in domestic politics, and it won’t work in international politics.
As a side note, given Trump’s well known proclivity to sue, it is surprising that anyone would sign a contract with him, without at least insisting that the contract require that disputes be resolved by arbitration, with the arbitrator being pre-specified in the contract.
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