With apologies to Kramer’s boss in Seinfeld. From Oren Cass’s “Trump’s Most Misunderstood Policy Proposal: Economists aren’t telling the whole truth about tariffs,” The Atlantic: Their first mistake is to consider only the costs of tariffs, and not the benefits. Traditionally, an economist assessing a proposed market intervention begins by searching for a market failure, … Continue reading “It’s almost as if you have no economics training at all…”