TweetJeff Jacoby eloquently argues that “the convictions that count are the ones that sometimes sting.” A slice: What makes this problem worse is the increasingly common belief that only those who agree with us are legitimate participants in American life. Too many on the right write off their opponents as anti-American, while too many on…
Some Links
Some Links
25 Aug 2025 Leave a comment
in applied price theory, international economics, politics - New Zealand
More On Alleged Chinese Dumping
24 Aug 2025 Leave a comment
in applied price theory, development economics, economic history, entrepreneurship, growth miracles, history of economic thought, industrial organisation, international economics, politics - USA, Public Choice, rentseeking Tags: free trade, tariffs
TweetHere’s a second note to a commenter at my Facebook page. Mr. Schlomach: Commenting on my Facebook page, you allege that China ‘dumps’ goods in the U.S. and, in doing so, “has used our love of cheap stuff to suck our country of strategically critical technology/industry.” By suggesting that your fellow Americans buy stuff simply…
More On Alleged Chinese Dumping
A Final Attempt to Explain My Disagreement With John Lott on Trump’s Tariffs
13 Aug 2025 1 Comment
in applied welfare economics, industrial organisation, international economics, politics - USA Tags: tarrifs
TweetHere’s a follow-up letter to a new correspondent. Mr. K__: Thanks for your follow-up email, and no need to apologize for what you call your “continued confusion about tariffs as taxes.” It’s I who apologize for communicating unclearly. So, especially because you’re not the only person who I managed to confuse, I’ll take one more…
A Final Attempt to Explain My Disagreement With John Lott on Trump’s Tariffs
Some Links
11 Aug 2025 1 Comment
in applied price theory, economic history, history of economic thought, international economics, politics - USA Tags: tarrifs
TweetFareed Zakaria, writing in the Washington Post, eloquently corrects many of the fallacies believed by MAGA-types (and also by many – most? – progressives’) about the American economy. Two slices: The Organization for Economic Cooperation and Development’s measure of median disposable household income in America was higher than in all but one advanced industrial economy…
Some Links
Why the tariffs are bad
05 Aug 2025 1 Comment
in applied price theory, international economics, politics - USA Tags: tarrifs
I am delighted to see this excellent analysis in the NYT: Mr. Tedeschi said that future leaders in Washington, whether Republican or Democrat, may be hesitant to roll back the tariffs if that would mean a further addition to the federal debt load, which is already raising alarms on Wall Street. And replacing the tariff […]
Why the tariffs are bad
Horseshoe Theory: Trump and the Progressive Left
26 Jul 2025 Leave a comment
in applied price theory, economics of regulation, history of economic thought, income redistribution, international economics, International law, labour economics, labour supply, Marxist economics, politics - USA, Public Choice, rentseeking Tags: 2024 presidential election, regressive left, tarrifs
Many of Trump’s signature policies overlap with those of the American progressive left—e.g. tariffs, economic nationalism, immigration restrictions, deep distrust of elite institutions, and an eagerness to use the power of the state. Trump governs less like Reagan, more like Perón. As Ryan Bourne notes, this ideological convergence has led many on the progressive left […]
Horseshoe Theory: Trump and the Progressive Left
Expanding the Milei Miracle: Trade Liberalization
25 Jul 2025 Leave a comment
in development economics, growth disasters, growth miracles, international economics, liberalism, libertarianism Tags: Argentina, tariffs
Part I of this series celebrated Javier Milei’s amazing success, Part II pointed out that labor market liberalization is still a big challenge, while Part III noted that the tax system still needs to be fixed. This final video in the series explains the need for free trade. As noted in the video, Milei inherited […]
Expanding the Milei Miracle: Trade Liberalization
Markets in everything, bet on tariff repeal edition
23 Jul 2025 Leave a comment
in applied price theory, entrepreneurship, financial economics, international economics, politics - USA Tags: tarrifs
Cantor Fitzgerald, a financial services company led by the sons of US Commerce Secretary Howard Lutnick, has offered to buy the right to hundreds of millions of dollars in potential refunds from companies that have paid Trump’s tariffs. The offer means that the sons of the pro-tariff commerce secretary, Kyle and Brandon, have made a way for […]
Markets in everything, bet on tariff repeal edition
The Cross of Gold: Brazilian Treasure and the Decline of Portugal (due to the resource curse)
18 Jul 2025 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, development economics, economic growth, economic history, growth disasters, international economics, law and economics, macroeconomics, property rights, Public Choice, rentseeking, resource economics Tags: Portugal, resources curse
By Davis Kedrosky and Nuno Palma. Published in The Journal of Economic History.In the book The Economics of Macro Issues which I used as a supplemental text, they mention that Russia has many resources but its per capita income is less than that of Luxembourg which has few resources. The book suggests that the economic…
The Cross of Gold: Brazilian Treasure and the Decline of Portugal (due to the resource curse)
Tariff Shenanigans
15 Jul 2025 Leave a comment
in applied price theory, international economic law, international economics, politics - USA Tags: free trade, offsetting behavior, tarrifs
In our textbook, Tyler and I give an amusing example of how entrepreneurs circumvented U.S. tariffs and quotas on sugar. Sugar could be cheaply imported into Canada and iced tea faced low tariffs when imported from Canada into the U.S., so firms created a high-sugar iced “tea” that was then imported into the US and […]
Tariff Shenanigans
Technology Transfer and Development Economics
14 Jul 2025 1 Comment
in development economics, health economics, history of economic thought, industrial organisation, international economics Tags: technology diffusion
Willis Carrier invented modern air conditioning around 1904 but technological innovations often take a long time to travel to less developed regions of the world. FT.
Technology Transfer and Development Economics
Victor Davis Hanson Continues to Write Foolishly About Economics
07 Jul 2025 Leave a comment
in applied price theory, history of economic thought, industrial organisation, international economics, politics - USA, Public Choice, rentseeking Tags: tarrifs
TweetEvery time Victor Davis Hanson comments on the economics of international trade he displays his utter ignorance of the most basic facts and theories of that topic. Editor, Real Clear Politics Editor: Victor Davis Hanson’s declaration of victory for Trump’s tariffs is premature and confused (“The Decline and Fall of Our So-Called Degreed Experts,” July…
Victor Davis Hanson Continues to Write Foolishly About Economics
Federal Judge Rules Against Trump on Use of “Invasion” Powers to Expedite Deportations
05 Jul 2025 Leave a comment
in international economic law, international economics, International law, labour economics, labour supply, politics - USA Tags: economics of immigration
In Washington, D.C., District Court Judge Randolph Moss has issued a notable decision against the Trump Administration in Refugee and Immigrant Center for Legal and Educational Services v. Noem. Judge Moss rejected the use of Trump’s January 20 “invasion” executive proclamation to block undocumented immigrants from pursuing asylum applications and other legal pathways. The court essentially rules […]
Federal Judge Rules Against Trump on Use of “Invasion” Powers to Expedite Deportations
Another Open Letter to Howard Lutnick
04 Jul 2025 1 Comment
in applied price theory, development economics, growth miracles, international economic law, international economics, politics - USA Tags: tarrifs, Vietnam
TweetMr. Howard Lutnick Secretary, U.S. Department of Commerce Washington, DC Mr. Lutnick: Yesterday you tweeted this: Our trade deal with Vietnam is a massive win for America’s businesses, manufacturers, and farmers! For the FIRST TIME EVER, Vietnam will open its market to the United States. They will pay 20% to sell their products here, and…
Another Open Letter to Howard Lutnick
Quotation of the Day…
01 Jul 2025 Leave a comment
in applied price theory, income redistribution, international economics, politics - USA, Public Choice, rentseeking Tags: tarrifs
Tweet… is from page 45 of Milton & Rose Friedman’s great 1980 book, Free To Choose: Another source of “unfair competition” is said to be subsidies by foreign governments to their producers that enable them to sell in the United States below cost. Suppose a foreign government gives such subsidies, as no doubt some do.…
Quotation of the Day…
Utopia, you are standing in it! 
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