Despite arguments from President Trump and his supporters, there is no such thing as an “optimal” tariff. If anything, Americans have the upper hand in trade because they can run large trade deficits due to the status of the US dollar as the world‘s reserve currency.
Oh, I know, you aren’t really against free trade per se. You just demand a “level playing field.” Demanding a level playing field for international trade is a complete waste of time.
Free markets and free minds must push back against the mercantilist and populist policies associated with current Keynesians; we must draw upon the foundational ideas of economists such as Ludwig von Mises, Friedrich Hayek, Israel Kirzner, and Murray Rothbard.
Murray Rothbard believed that the right to engage in voluntary exchange has long been understood as a natural right, not just a good, practical idea. Tariffs and other trade barriers violate that right.
Trump has even dubbed himself “a Tariff Man.” This is nothing new, however, his frequent claims regarding the US economy during the Gilded Age need scrutiny.
Freedom in One Lesson is an extensive collection of Leonard Read's best, most powerful sustained arguments on behalf of liberty. Leonard Read's goal was to plant the seeds of liberty, so society and individuals could blossom to their fullest potential.
Western elites repeatedly call for “reparations” payments to former Western colonies ostensibly to lift them from poverty. By turning these countries into large welfare recipients, these elites perpetuate the very poverty they claim to decry.
Britain‘s new populist party, Reform UK, has done well in the polls but is embarking on head-scratching proposals to deal with energy issues. Instead of pushing market reforms, RUK is proposing a mix of subsidies, taxes, and prohibition to respond to high energy prices.
The philosopher Karl Popper was a strong critic of Marx, his system, and especially his reliance on historicism. Unfortunately, as David Gordon points out, Popper supported economic interventionism as a viable “third way” for social organization.
Economic development cannot ever be seen as an end in itself. People are complex, social beings who may well forgo some of the advantages of economic growth for social stability, something Ludwig von Mises and Murray Rothbard understood.
