All Else Equal: Making Better Decisions

Ep59 “Why Tariffs Are Not The Ultimate Trade Weapon” with Dani Rodrik

8 snips
Apr 9, 2025
Dani Rodrik, Ford Foundation Professor of International Political Economy at Harvard, dives into the economic ramifications of tariffs in this conversation. He discusses how hyperglobalization sparked political discontent leading to recent tariff decisions. Rodrik critiques the effectiveness of tariffs as a modern trade policy tool and emphasizes the need for innovative strategies to rebuild the middle class. He highlights the intricate link between job satisfaction and economic health, advocating for a holistic approach to job quality.
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INSIGHT

Strategic Use of Tariffs

  • Tariffs' effectiveness depends on whether they're part of a broader economic strategy.
  • Simply shielding domestic industries doesn't guarantee innovation or growth.
INSIGHT

Tariffs and Development

  • Tariffs have a mixed historical track record regarding development.
  • Countries like the US and Britain developed behind tariff walls, but other countries haven't had the same success.
INSIGHT

Reasons for Tariff Resurgence

  • Resurgence of tariffs is due to multiple factors, including dissatisfaction with hyper-globalization.
  • Geopolitical rivalry with China, COVID-19, and the green transition also play a role.
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