Axios omits crucial details about economists who say Trump will destroy the economy

One of the economists married a Biden official who donated $25K to Biden Victory Fund.

Signatories of a letter by 16 economists warning about the economic dangers of electing the former president Trump are strewn with those who have donated to Biden and supported him in the past.

The economists, who were first featured by Axios in a report this week, wrote a letter that was promoted on X by members of the Biden Campaign.

Signatories of the letter, including Nobel Prize winners, have made political contributions to Biden’s 2020-2024 campaigns. A Fox News Digital review revealed that the signatories had also given tens thousands of dollars to Democratic candidates and previously signed letters in support of Biden’s agenda. They even attacked “selfish” and “reckless” Trump.


The economist Joseph Stiglitz of Columbia University, who is said to have spearheaded this letter, had previously signed a support letter for Biden’s Build back Better agenda, and donated $1.250 to the Biden victory fund in 2020.

FEC records reveal that between 2004 and 2020 Stiglitz gave over $90,000.00 to Democrat candidates.

George Akerlof of Georgetown University, married to Biden’s Treasury Secretary Janet Yellen donated $25,000 to Biden’s Victory Fund. He maxed out his donation in 2020 and gave the campaign $5 600.

Akerlof donated almost $90,000.00 to Democrats from 1990 until 2022. He also signed a Letter supporting Build Back Better and signed another letter in 2020, calling Trump’s Re-election campaign “selfish and irresponsible.”

Claudia Goldin, a Harvard University historian and economist, donated $500 in 2020 to the Biden Campaign and over $8,000 in recent years to Democrats. Goldin signed a letter in 2020 endorsing Biden’s campaign.

The economist and mathematician Eric Maskin has signed a letter for 2020 expressing his support for the Biden agenda. He also donated $3,000 in recent years to Democrats, including Senate Candidates Raphael Warnock Beto O’Rourke, and Jon Ossoff.

Maskin, when asked to comment on his support for Biden and Democrats in the past, said: “I am a registered Democrat, and I have donated money to Democratic Candidates on occasion. I have also voted many Republicans (including Bill Weld for Governor of Massachusetts and Charlie Baker) over the years.”

He said that he considered himself “more a centrist” than “a strong partisan on either side of the ideological spectrum.” He cited an op/ed he wrote recently against political polarization and in support of a Republican Senator and “supported 2020 Biden’s agenda based on its economic merits, and signed the letter for the exact same reasons.”

Paul Milgrom is an economist from Stanford University who has also signed previous letters in support of Build Back Better, calling Trump’s 2020 presidential campaign “selfish” and “reckless”.

Daniel McFadden is an economist at UC Berkeley who donated at least $4.500 to Democrats for 2020. He also signed a letter stating that Biden’s Build back Better plan would “ease” inflation. He also signed another letter endorsing Biden for 2020.

Roger Myerson, a University of Chicago economist, gave $2,350 in 2020 to the Biden Campaign and $250 in 2024. He had previously donated over $40,000 between 2004 and 2024 to Democrats.

Myerson had also signed a previous letter in support of Biden’s economic revival agenda and Build Back Better. After the letter was published on X, Myerson, an economist at the University of Chicago, posted, “A dictator would be bad from day one for America and we should prove that as patriotic Americans.”

He added, “As economists, we can attest that his policies will not help to combat inflation.”

Edmund S. Phelps, an economist from 2020, wrote a piece called “The Economics Case for Biden.” He also stated that Trump’s past policies have been “a disaster.”

Phelps also made donations to Democrats before, including $1,500 to a Democratic House Candidate and $25 to Pete Buttigieg.

Paul Romer is an economist from Boston College who has publicly supported the impeachment of Trump. Romer signed a letter supporting Build Back Better, praised Biden’s pandemic plan and endorsed Biden’s 2020 letter.

Stanford University economist Alvin Roth signed several letters opposing Trump, and supported the letter in which he was described as “selfish” and “reckless”, on top of having donated $1,250 to Barack Obama’s presidential campaign in 2008.

William Sharpe, Nobel Prize winning economist and Biden Victory Fund donor in 2020, donated $500 to Biden’s campaign. Sharpe signed a letter in 2020 to business leaders urging them to speak out about Trump and the threat he poses to the Republic.

Robert Shiller, an economist at Yale University, has donated $1,000 in 2020 to the Biden Victory fund and more than $20,000 in total to Democrats over the past few years. Shiller stated in 2019 that he would back any candidate who was better than Trump.

Christopher Sims, an economist at Princeton University, donated $500 to Biden Victory in 2020 as well as over $9,000 to Democrats.

Sir Oliver Hart, a British economist, and Sir Angus Deaton are two British economists who signed a letter supporting Build Back Better. Hart supported Biden for 2020, and signed the 2020 letter that called Trump “selfish” and “reckless.”

James Singer, the Biden campaign’s rapid response advisor, and Julie Chavez Rodriguez, the campaign manager, seized on the Axios story to highlight it.

Andrew Bates, senior deputy White House press secretary and Biden surrogates, as well as California Governor Gavin Newsom shared and cited the report. Gavin Newsom.

Tim Murtaugh – Trump’s 2020 campaign spokesperson – mocked the story on social media, saying: “How amazing that it happens right in time for Biden (it’s likely that he will) to mention it in the debate.”

Murtaugh added, “It is almost as good a chance as the letter of 51 intelligence officers who claimed that Hunter’s computer was Russian disinformation.” “Amazing.”

Axios didn’t mention the political activism of economists who were featured in the article, nor did they note that Yellen is married to one of her top signatories.