TweetHere’s a note to a new correspondent. Mr. B__: Thanks for sending along Dani Rodrik’s new paper “What the Mercantilists Got Right.” As usual, Rodrik writes engagingly. But I’m afraid I don’t share your positive assessment of his attempt to find merit in mercantilism. He immediately gets off on the wrong foot by arguing that […]

Cafe Hayek

24.10.2025

Phil Gramm and Me: Trump's Trade War Was a Loser - Cafe Hayek

TweetI just realized that I never shared in full the complete text of Phil Gramm’s and my September 12, 2023, Wall Street Journal piece, titled “Trump’s Trade War Was a Loser.” You can read the full text beneath the fold. Trump’s Trade War Was a Loser Tariffs destroyed jobs in Michigan, Pennsylvania and Wisconsin and […]

Cafe Hayek

24.10.2025

Quotation of the Day... - Cafe Hayek

Tweet… is from page 133 of Norbert Michel’s excellent 2025 book, Crushing Capitalism: How Populist Policies are Threatening the American Dream; it’s the conclusion of his data-rich book: Economic freedom is the sturdiest ladder out of poverty. Extensive government involvement in the market, whether under the name of industrial policy or central planning, destroys the […]

Cafe Hayek

24.10.2025

Some Links - Cafe Hayek

TweetEconomists at the St. Louis Federal Reserve report this unsurprising fact: (HT Jon Murphy) While headline PCE inflation has increased only modestly in recent months, the categories of goods most exposed to international trade tell a different story. In the U.S., prices for durable goods—such as vehicles, electronics and furniture—have increased noticeably. These price movements […]

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Rodrik Misses the Pencil's Point - Cafe Hayek

Phil Gramm and Me: Trump's Trade War Was a Loser - Cafe Hayek

Quotation of the Day... - Cafe Hayek

Some Links - Cafe Hayek

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