Mercantilism -- the idea that trade surpluses & deficits determine who is winning or losing from int'l trade -- is having its moment.
My article in Economics & Politics traces the mercantilist worldview and demonstrates its pervasiveness among the public:
onlinelibrary.wiley.com/doi/…
My paper “Deficit Aversion: Mercantilist ideas and individual trade preferences” found its way into print this summer, in the journal Economics & Politics: drive.google.com/file/d/1CLv…
My paper is one of many to show that people have causal economic beliefs very different from what workhorse models would predict them to believe. So can we believe a model that assumes that everyone believes the model?