In 'A Splendid Exchange', William J. Bernstein tells the extraordinary story of global commerce from its prehistoric origins to the myriad controversies surrounding it today. He explores how trade has evolved, from ancient sailing ships bringing silk from China to Rome, to the rise and fall of the Portuguese monopoly in spices, and to modern trade involving goods like televisions from Taiwan, lettuce from Mexico, and T-shirts from China. Bernstein examines how trade has contributed to agricultural bounty, intellectual progress, and both prosperity and vulnerability. He argues that trade is ultimately a force for good among nations and that societies are more successful and stable when involved in vigorous trade with their neighbors.
On episode 407 of Animal Spirits, Michael Batnick and Ben Carlson discuss the chaos surrounding tariffs, Dan Ives getting cautious, possible affects on the economy, fake headlines moving markets, cabanas are getting out of control, the White Lotus finale, and much more!
This episode is sponsored by Betterment Advisor solutions and Morningtstar Investment Conference.
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Ben Carlson’s A Wealth of Common Sense
Michael Batnick’s The Irrelevant Investor
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