Note

I’m reading Sowell’s Basic Economics now, and it’s fantastic. However, one of the things that I’m noticing is that one’s judgement of the “best” economic move is based largely upon one’s end goal.

From what I’m reading (and I’m admittedly brand new at this) Sowell prioritizes the lowest price on items, period. With open markets (which we don’t really have) it is definitely cheaper to produce certain items like coffee, sugar, produce, etc. in areas where they naturally grow and then export them. But most of us see the importance of rebuilding the American economy for reasons which include, but aren’t limited to, economics. Trump has a different end game, which will hopefully lead to more open markets that are able to react more normally without government manipulation.

Anywho, I’ll have to track down Sowell’s response and check it out. I have been thinking about him as I’ve watched this tariff news develop.