We will have occasions to discuss the implications of the Trump victory in the US presidential election, for the US and world economy, financial markets, trade, international politics, energy, and so on.

My first gut reaction is more self-critical: how come that most economists (I know or/and read), let alone polls-makers, politicians and journalist of all kind, were so badly surprised by the result? How did they become so de-tached from the reality? What were they studying, DSGEs? Did anybody take the time to look at the evolution of income and wage distribution in the US?

u-s-_income_-_changes_by_income_group_1979-2011

us_gdp_per_capita_vs_median_household_income productivity_and_real_median_family_income_growth_in_the_united_states