Global Economy

Mises Institute Fellow Karl-Friedrich Israel appears on The Peter McCormack Show.

Bob explains Lerner’s Symmetry Theorem and shows how tariffs ripple through exchange rates, exports, and trade balances—then tests those predictions against today’s Trump-era tariff shocks.

The following is an article originally published on October 20th, 2025, at Ludwig von Mises Institut Deutschland. Its publication sparked a public debate on the topic between Dr. Bagus and Dr. Jörg Guido Hülsmann. 

An enduring myth is that imports from industrialized western countries have decimated production of goods in developing countries. Economic history tells a much different story.

While China has made great strides economically since the days of Mao, nonetheless, there remain a number of weaknesses in the economy. While we should recognize its economic strengths, we should not be tempted to portray China as an economic superpower.

One of the arguments given in favor of tariffs is that they will enable domestic manufacturers to better compete with producers abroad. While people may believe that to be true, the problem is that tariffs don't create a good foundation for capital development.

Bob challenges the conventional wisdom around Triffin’s dilemma, arguing that persistent U.S. trade deficits aren’t necessary for dollar dominance—and that Ron Paul had it right all along.

Tariff supporters claim that implementing tariffs will result in new jobs at home. What they fail to point out is that many people depend upon imports for work. The tariffs on Canadian aluminum imports are a case in point.

Mises Institute President Thomas DiLorenzo joins NTD News to break down the real impact of Trump's tariff policies.

Despite Africa being the world‘s poorest continent, Western elites are still pushing African governments to divest of carbon-based fuels and turn to high-cost and ineffective “green” energy. This is a death sentence for many of Africa‘s poorest people.