As a long time fan of @economist.com going back to the last century, when James Callahan was PM (yes, that old!), it's a thrill to appear in print on their pages. Revised version of a web essay on the Supreme Court decision.
Kelvin's dictum, etched on the University of Chicago Social Science building: "when you cannot measure, your knowledge is meager and unsatisfactory." To which Jacob Viner replied,"And when you can measure, your knowledge is meager and unsatisfactory."
A super timely listen, @douglasirwin.bsky.social
delivers a fantastic lecture, "Do Trump's Tariffs Make Sense?" as part of our #HayekLecture series.
hope.econ.duke.edu/do-trumps-ta...
Come on @alanbeattie.bsky.social , don't mince words, tell us what you really think...
We need to make @douglasirwin.bsky.social's books required reading for schoolchildren and presidents.
My thoughts on the Supreme Court decision in The Economist:
www.economist.com/by-invitatio...
Just a friendly reminder that the anti dumping process continues to churn out high tariffs beyond Trump's reciprocal tariffs ... www.wsj.com/world/europe...
This is a historic day for trade policy. Background here ⤵️
In about an hour, you can listen to the Supreme Court oral arguments in the IEEPA tariff cases here:
www.supremecourt.gov/oral_argumen...
I doubt we'll hear anything new and interesting in the parties' arguments, but if the justices ask anything that seems worth noting, I'll try to note it here.
"In countless speeches, radio addresses, and policy actions, Reagan assailed the costs of protection and hailed the virtues of free trade.” Economics professor @douglasirwin.bsky.social shows how President Trump is rebranding Reagan’s free trade legacy in an opinion piece in the @nytimes.com.
"Economic integration was once considered a threat to sovereignty. Today it has become its shield."
www.economist.com/finance-and-...
Excellent piece from @douglasirwin.bsky.social
Reagan: "We should beware of the demagogues who are ready to declare a trade war against our friends — weakening our economy, our national security and the entire free world — all while cynically waving the American flag
www.nytimes.com/2025/10/29/o...
www.nytimes.com/2025/10/29/o...
Want to understand Reagan's trade policies? You have to understand the three P's: principles, pragmatism, and politics....
More on Reagan v Trump on tariffs
www.wsj.com/opinion/reag...
On 2, check out Clashing over Commerce by @douglasirwin.bsky.social at p 574, quoting administration adviser Bill Niskanen: The Reagan administration's strategy was "to build a five-foot trade wall in order to deter a ten-foot wall [that would have been] established by Congress."
Yes, he was a free trader but did a strategic retreat in his first term under the pressure of the recession and Congress
www.wsj.com/opinion/rona...
Anne Krueger political economy of the rent seeking society in action in Argentina
"Openness is a driver of growth." New Nobel laureate in economics Philippe Aghion is pro-trade and anti-tariff . . . go figure!
"The responsibility of economic historians is to remind the world what things were like before 1800. Growth was imperceptibly slow, and the vast bulk of the population was so poor that a harvest failure would kill millions." - Joel Mokyr
www.wsj.com/articles/joe...
Another excellent episode . . . .where can I read more about Labour politics in the 1970s and 1980s, and Militant in particular? Any recommendations? Thank you!
📢CFP
Tariffs and Trade Policy: Past, Present, & Future
@ncsu: Dec 5, 6, 7 (am)
Due: Sept 30 tinyurl.com/2stm2fk7
Papers: 8 + Discuss
Keynote: @douglasirwin.bsky.social
Panel: Chad Bown +TBD
Sponsor: @NSF
NEW TARIFF DATABASE 1789-2025
Funding: Flight+Hotel+Food (presenter/discussant)
The US Constitution forbids export taxes but I guess this payment isn't a "tax" but a payout....🤔 www.nytimes.com/2025/08/10/t...
On cue . .
Some great lines from @davidfrum.bsky.social
"There is no socialist way to create wealth. There is only a socialist way to spend wealth."
"While Trump’s behavior discredits markets, his rhetoric vilifies markets."
& more . . .
www.theatlantic.com/ideas/archiv...
Heartbreaking to the extent that US tariff policy contributed to this . . . www.bbc.com/news/article...
Watch the AHA’s Congressional Briefing on the history of tariffs on C-SPAN. Panelists @douglasirwin.bsky.social, @sharonannmurphy.bsky.social, & @rauchway.bsky.social discussed how the government has implemented tariffs in the past & how they have impacted the economy. 🗃️
Tomorrow, on 6/11, the AHA will host a Congressional Briefing offering historical perspectives on tariffs. Panelists @douglasirwin.bsky.social, @sharonannmurphy.bsky.social, & @rauchway.bsky.social will discuss how the govt. has implemented tariffs in the past, & how they have impacted the economy.🗃️
This one seems pretty important . . . goes after a slew of them
www.sciencedirect.com/science/arti...
