Ep. 384 Explaining Optimal Tariff Theory and Its Relation to Standard Free Trade Arguments
Bob first explains the neoclassical theory of “optimal tariffs,” by which a large country can use a modest tariff to improve its terms of trade. He then shows how this theoretical possibility is consistent with standard arguments making the case for free trade. Mentioned in the Episode and Other Links of Interest: The link for Monetary-Metals.com.…
Ep. 359 Crossover: Do Trump’s Tariffs Make Economic Sense?
Adam Haman returns to ask Bob introductory but also deep questions about tariffs. What about national defense? What if they replace the income tax? You name it, they discuss it. Mentioned in the Episode and Other Links of Interest: The YouTube version of this episode. Bob’s article on Vivek’s defense of tariffs, and another article explaining…
Ep. 283 Oren Cass Warns Conservatives to Rethink Economic Libertarianism
Oren Cass is the founder of American Compass, which has a new handbook advising conservatives on how to rebuild American capitalism. Bob provides a skeptical but friendly forum for Oren to explain his dissatisfaction with the standard libertarian position on free trade and labor unions. Mentioned in the Episode and Other Links of Interest: The YouTube…
Ep. 276 Even Milton Friedman Slipped in His Defense of Trade Deficits
Bob uses the illustrious Milton Friedman to demonstrate a depressing tendency among economists to overreact in their zeal to defend trade deficits, where they end up arguing that it’s necessarily beneficial to live beyond one’s means. Although this could be true in certain cases, it’s not true in general. Bob then explains that the original mercantilists…
Ep. 258 Responding to the Dave Smith/Curtis Yarvin Discussion on Libertarianism, Part 1
Bob addresses Curtis Yarvin’s claim that free trade policy has hurt America, and that libertarians don’t have a good response to it. Mentioned in the Episode and Other Links of Interest: The Michael Malice episode featuring Yarvin vs. Smith. FRED charts showing manufacturing employment, index of total manufacturing production, components of manufacturing, and domestic auto production.…