Ep. 398 How Should Libertarians Debate Trump’s Tariffs?

Frédéric Bastiat's "Economic Harmonies" is a seminal work in classical liberal economics that explores the natural harmonies within a free market system. Bastiat argues that when individuals pursue their self-interest, they unintentionally contribute to the overall welfare of society. He examines various economic phenomena, such as the division of labor, capital accumulation, and the role of competition, to demonstrate how they lead to mutual benefit. The book emphasizes the importance of limited government intervention and the protection of individual rights. Bastiat critiques mercantilism and protectionism, advocating for free trade as a means to foster prosperity and peace. "Economic Harmonies" reflects Bastiat's optimistic view of human nature and his belief in the power of voluntary exchange. The book serves as a powerful defense of free markets and a reminder of the importance of sound economic principles.

This book is a mix of memoir and business advice, detailing Trump's professional and personal worldview. It outlines his approach to deal-making, including his eleven key elements for success, such as 'Think Big,' 'Maximize Your Options,' and 'Have Fun.' The book offers insights into Trump's business strategies, his interactions with various figures, and his approach to negotiating deals. It also provides a glimpse into his personal life and how he runs his organization.

In 'The Law', Frédéric Bastiat explores the nature and purpose of law in society, arguing that the fundamental role of law should be the protection of individual rights such as life, liberty, and property. He critiques the misuse of law for 'legal plunder' and emphasizes that justice has precise limits, while philanthropy and government intervention can lead to endless statism. Bastiat argues that laws should not be used to oppress or exploit individuals but rather to safeguard their rights, and he warns against the dangers of misapplied legal authority and the exploitation of power by legislators.

This textbook provides a straightforward and comprehensive introduction to basic macro and microeconomic concepts. It is designed to be accessible and is widely used in introductory economics courses. The book covers fundamental principles and theories in economics, making it a valuable resource for students and those new to the subject.

In 'I, Pencil,' Leonard Read uses the humble pencil as a metaphor to explain the intricate web of global cooperation and specialization that underlies modern production. The essay emphasizes the concept of the 'invisible hand,' demonstrating how millions of people contribute to the creation of a simple pencil without a central authority directing them. This work serves as a powerful introduction to the principles of free market economics and the interconnectedness of human endeavors.