On this episode of Liberty Curious, we go deep into the historic roots of ‘Making America Nice Once more’. Kate Wand sat down with Phillip W. Magness, Senior Analysis College and F.A. Hayek Chair in Economics and Financial Historical past at AIER, to debate the true implications of tariffs and protectionism and the way they’ve formed America’s financial panorama.
From the earliest years of the American founding, guarantees of placing America first echoed by means of political chambers. These calls, although wrapped in patriotism, typically harbored hidden implications of cronyism, favoritism, and a veiled tax that burdened on a regular basis shoppers. Regardless of the interesting rhetoric, tariffs and protectionist measures stand as obstacles to financial freedom, prosperity, and real worldwide cooperation.
As historical past warns, “When items stop to cross borders, armies quickly comply with.” By tracing the historical past of tariffs, we see a repeating sample: opportunistic rent-seeking, strained worldwide relations, and a authorities that usually interferes with pure financial exchanges. This meddling not solely fosters much less peace but additionally empowers the federal authorities on the expense of states and the very folks it guarantees to guard.
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Phillip W. Magness at AIER.org
Phil Magness on X
Use these time stamps to navigate the content material of the interview:
0:00 – Intro
1:03 – MAGA & Tariffs
3:46 – I, IPhone
6:00 – American Founding debates
8:09 – Commerce Liberalization
10:20 – James Madison
14:14 – Particular Pursuits
16:15 – Early Cronyism
19:00 – Alexander Hamilton
22:25 – Toddler Business
26:16 – Much less selections, increased costs
29:13 – The eve of the Civil Warfare
34:15 – Lease-seeking
38:07 – Tariff renaissance
40:05 – American System
50:13 – Earnings Tax
54:50 – The Rise of Authorities Growth
58:02 – The Ring of Energy
Phillip W. Magness
Phillip W. Magness is Senior Analysis College and F.A. Hayek Chair in Economics and Financial Historical past on the American Institute for Financial Analysis. He’s additionally a Analysis Fellow on the Unbiased Institute. He holds a PhD and MPP from George Mason College’s Faculty of Public Coverage, and a BA from the College of St. Thomas (Houston). Previous to becoming a member of AIER, Dr. Magness spent over a decade instructing public coverage, economics, and worldwide commerce at establishments together with American College, George Mason College, and Berry Faculty. Magness’s work encompasses the financial historical past of the US and Atlantic world, with specializations within the financial dimensions of slavery and racial discrimination, the historical past of taxation, and measurements of financial inequality over time. He additionally maintains an energetic analysis curiosity in increased training coverage and the historical past of financial thought. His work has appeared in scholarly shops together with the Journal of Political Economic system, the Financial Journal, Financial Inquiry, and the Journal of Enterprise Ethics. Along with his scholarship, Magness’s well-liked writings have appeared in quite a few venues together with the Wall Road Journal, the New York Occasions, Newsweek, Politico, Purpose, Nationwide Overview, and the Chronicle of Increased Schooling.
Kate Wand
Kate Wand is a content material creator. Her focus is social commentary and filmmaking. She is the host of AIER’s Liberty Curious podcast.
You’ll be able to comply with her on Twitter @katewand.
Associated Articles – Financial Historical past, Authorities, Regulation, Warfare and Peace
