Scott Lincicome, a senior lecturer at Duke University and trade policy expert at Cato, dives into the complex world of tariffs and their implications. He discusses the potential economic repercussions of a second Trump administration, exploring how tariffs affect consumers and industries. Lincicome highlights the importance of reclaiming congressional authority over trade decisions and critiques protectionist policies. The conversation also touches on the evolving landscape of Republican trade philosophy and even includes some playful commentary on the WNBA.
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U.S. Steel and Nippon Steel
U.S. Steel, a protected industry, faces a potential acquisition by Nippon Steel.
Steelworkers unions are split on the deal, fearing job losses despite potential benefits.
insights INSIGHT
Protectionism's Downside
Nippon Steel's interest in acquiring U.S. Steel stems from existing trade barriers.
These barriers incentivize investment but can lead to opposition due to perceived threats to domestic jobs.
insights INSIGHT
Tariff Impact on Living Costs
A 10% tariff on all imports won't increase living costs by 10% because services remain largely unaffected.
The U.S., being a service-based economy, consumes fewer goods, lessening the overall impact.
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In 'To Overthrow the World', Sean McMeekin explores the evolution of Communism from a seductive ideal of a classless society into the ruling doctrine of tyrannical regimes. The book spans from Karl Marx’s writings to the rise and fall of the USSR under Stalin, Mao’s rise to power in China, and the acceleration of Communist or Communist-inspired policies in the twenty-first century. McMeekin argues that despite its endurance, Communism remains deeply unpopular as a political form and has always arisen by force. The book provides a thorough and readable account of how Communism has endured through the twentieth century and its ongoing influence today.
The future and its enemies
The Growing Conflict Over Creativity, Enterprise, and Progress
Virginia Postrel
In 'The Future and Its Enemies,' Virginia Postrel argues that the growing conflict in post-Cold War society is between 'dynamism' – characterized by constant change, creativity, and exploration in the pursuit of progress – and 'stasis,' where progress is controlled by careful and cautious planning. Postrel endorses dynamism, illustrating its benefits through examples from various fields such as medicine, fashion, and technology. She contends that dynamism, with its emphasis on decentralized, open-ended trial and error, is the key to human betterment, while stasis, with its reliance on centralized control and preconceived outcomes, hinders progress.
We’ve promised this one for a very long time. But now that Trump is returning to the White House—the mercantilist maniac who recently said “the most beautiful word in the dictionary is ‘tariff’”—we finally followed through. By popular demand, we called upon Scott Lincicome, senior visiting lecturer at Duke University Law School and vice president of general economics and Cato's Herbert A. Stiefel Center for Trade Policy Studies, to answer all of your questions on protectionism, tariffs, and trade.
Don’t care about such things!? Well, this episode is a double feature! After Scott’s masterclass on free trade, the lads stick around to discuss Trump’s appointments (ummm….this was a day before the Gaetz-Gabbard selections), “neocons,” and the WNBA.
And for you subscribers: we will drop Moynihan’s conversation with Bard College historian Sean McMeekin in the next few days. For you non-subscribers…what are you waiting for??
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The Fifth Column 
