President Trump has now unveiled his outline of the higher tariffs he proposes. They are much higher and, therefore, much more destructive of people’s wealth, than I or, apparently, many others had expected. Trump claims to be doing this in the interest of reciprocity. In his Rose Garden speech, he noted, correctly, that you […]

Econlib Blog

03.04.2025

To Lie or Not To Lie: Moral and Economic Reasons - Econlib

The student of economics and especially of public choice theory should expect politicians to lie—and he is certainly not disappointed in America these days. Politicians are ordinary individuals. An ordinary individual is tempted to lie when he considers it is in his interest to do so. I take lying to mean intentionally conveying a statement […]

Econlib Blog

03.04.2025

Relative, compared to whom? - Econlib

It’s often said that after people are wealthy enough to meet their basic needs, they are more concerned about their relative rather than absolute level of well-being. If Smith sees his real income increase by 10% this year, but everyone else around Smith has their real income increase by 20%, Smith doesn’t feel glad that […]

Econlib Blog

03.04.2025

The slave to our passions - Econlib

I recently read some interesting comments by a basketball player for the Milwaukee Bucks: Regardless, Antetokounmpo felt weird about facing [former coach] Budenholzer at the other side of the court considering that they were strong and close allies in Milwaukee for five seasons. “It’s definitely weird,” Giannis said. “Seeing him complain about plays that I […]

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What Would True Reciprocity Mean? - Econlib

To Lie or Not To Lie: Moral and Economic Reasons - Econlib

Relative, compared to whom? - Econlib

The slave to our passions - Econlib

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