Why Smart People Are Rightly Confused About Tariffs

Jan 4, 2025

Delve into the confusing world of tariffs and discover how they are misunderstood even by the educated. Unravel the historical significance of tariffs, their limited benefits, and their role in deepening the Great Depression. Examine the burden they impose on American consumers while failing to protect domestic industries. Explore how regulations impact low-skilled workers and small businesses, highlighting the unfair advantages they give to larger corporations. Finally, see the connections between domestic and international protectionism throughout history.

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Intro

00:00 • 3min

The Complexities of Tariffs and Economic Misconceptions

03:17 • 13min

The Tariff Debate: Protectionism vs. Economic Impact

15:55 • 9min

The Burden of Regulations and Their Impact on the Economy

24:51 • 3min

The Interconnectedness of Domestic and International Protectionism

27:44 • 5min

Replacing the income tax, protecting American workers, serving as a negotiating tool, reducing the national deficit, reducing national debt, and more. We’re told that tariffs are going to do all sorts of great things. Mark Thornton sets the record straight and explains why tariffs are unequivocally a bad thing. Additional Resources “The Goose that Laid the Golden Egg” by Mark Thornton: https://Mises.org/U4_A “Ludwig von Mises on Trade, Human Development, and Human Progress” by Mark Thornton: https://Mises.org/U4_B “The Political Economy of Protectionism” by Thomas DiLorenzo: https://Mises.org/U4_C “Protectionism and Immigration Reform” by Ryan McMaken: https://Mises.org/U4_D “Protectionism Abroad and Socialism at Home” by Ron Paul: https://Mises.org/U4_E “Protectionism Is Not the Answer to the Canadian Fur Trade’s Problems” by Daniella Bassi: https://Mises.org/U4_F “Mises on Protectionism and Immigration” by Matthew McCaffrey: https://Mises.org/U4_G “Herbert Spencer: Protectionism Is Aggressionism“ by Gary Galles: https://Mises.org/U4_H “Protectionism Is Immoral, Unjust, and Corrupt” by James Bovard: https://Mises.org/U4_I “Review of Peddling Protectionism: Smoot-Hawley and the Great Depression by Douglas A. Irwin” by David Howden (QJAE 18, no. 2 ): https://Mises.org/U4_J “Protectionism, War and the Southern Tradition” by Lew Rockwell (The Costs of War): https://Mises.org/U4_K “Protectionism: Origin and Effects” by Thomas DiLorenzo (Mises University 2010): https://Mises.org/U4_L “Free Trade vs. Protectionism” by Carmen Elena Dorobăț (Mises University 2024): https://Mises.org/U4_M “Free Trade vs. Protectionism” by Shawn Ritenour (Mises University 2022): https://Mises.org/U4_N “Free Trade vs. Protectionism” by Lucas M. Engelhardt (Mises University 2023): https://Mises.org/U4_O “Clarifying Economists Arguments about International Trade” by Bob Murphy (Human Action Podcast): https://Mises.org/U4_P “Do Trump Tariffs Make Sense” (The Bob Murphy Show): https://Mises.org/U4_Q “Here’s why Trump thinks tariffs are good for the US — and what the experts say” by Aimee Picchi (CBS News): https://Mises.org/U4_R Subscribe to this monthly podcast at https://Mises.org/Unanimity. Music: “My Universe” ℗ 2006 Kate Higgins (katehiggins.com). Used with permission.