โข
Tariffs pushed some prices up in April, but falling service costs and an uncertain outlook make the inflation picture much murkier.
Including government spending in GDP distorts our understanding of value: spending more on tanks and bullets doesn’t mean civilians are getting wealthier during wartime.
โข
The US has been by far the biggest loser in tariff negotiations. Indexes have fallen sharply.
โข
Trump’s tariffs killed the US’s soft power, leaving a geopolitical vacuum into which US rivals like China will expand.
โข
Even if he slashes regulation and lowers taxes, any savings will be buried under needless damage to our economy and our international reputation.
โข
Censorship is often less about making the world a safer place for minorities, and more about indulging our own capacity for cruelty.
โข
Our choice to trade can’t impose externalities on some other interests’ desire for security. Government doesn’t have goals separate from its citizens’.
โข
Free trade has allowed us to purchase low-cost products from overseas, focusing employment in high-paying sectors where we enjoy a comparative advantage.ย
โข
The Fed seems confident it can hold inflation near two percent, but the full impact of tariffs on prices and employment remains unknowable.
โข
Depictions of global wealth don’t account for assets that lack formal ownership rights: the world’s poor own a mountain of capital they can’t fully put to work.
โข
Tariffs pushed some prices up in April, but falling service costs and an uncertain outlook make the inflation picture much murkier.
Including government spending in GDP distorts our understanding of value: spending more on tanks and bullets doesn’t mean civilians are getting wealthier during wartime.
โข
The US has been by far the biggest loser in tariff negotiations. Indexes have fallen sharply.
โข
Trump’s tariffs killed the US’s soft power, leaving a geopolitical vacuum into which US rivals like China will expand.
โข
Even if he slashes regulation and lowers taxes, any savings will be buried under needless damage to our economy and our international reputation.
โข
Censorship is often less about making the world a safer place for minorities, and more about indulging our own capacity for cruelty.
โข
Our choice to trade can’t impose externalities on some other interests’ desire for security. Government doesn’t have goals separate from its citizens’.
โข
Free trade has allowed us to purchase low-cost products from overseas, focusing employment in high-paying sectors where we enjoy a comparative advantage.ย
โข
The Fed seems confident it can hold inflation near two percent, but the full impact of tariffs on prices and employment remains unknowable.
โข
Depictions of global wealth don’t account for assets that lack formal ownership rights: the world’s poor own a mountain of capital they can’t fully put to work.
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