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Replacing the income tax, protecting American workers, serving as a negotiating tool, reducing the national deficit, reducing national debt, and more. We’re told that tariffs are going to do all sorts of great things.

Mark Thornton sets the record straight and explains why tariffs are unequivocally a bad thing.

Additional Resources

“The Goose that Laid the Golden Egg” by Mark Thornton: https://Mises.org/U4_A

“Ludwig von Mises on Trade, Human Development, and Human Progress” by Mark Thornton: https://Mises.org/U4_B

“The Political Economy of Protectionism” by Thomas DiLorenzo: https://Mises.org/U4_C

“Protectionism and Immigration Reform” by Ryan McMaken: https://Mises.org/U4_D

“Protectionism Abroad and Socialism at Home” by Ron Paul: https://Mises.org/U4_E

“Protectionism Is Not the Answer to the Canadian Fur Trade’s Problems” by Daniella Bassi: https://Mises.org/U4_F

“Mises on Protectionism and Immigration” by Matthew McCaffrey: https://Mises.org/U4_G

“Herbert Spencer: Protectionism Is Aggressionism“ by Gary Galles: https://Mises.org/U4_H

“Protectionism Is Immoral, Unjust, and Corrupt” by James Bovard: https://Mises.org/U4_I

“Review of Peddling Protectionism: Smoot-Hawley and the Great Depression by Douglas A. Irwin” by David Howden (QJAE 18, no. 2 ): https://Mises.org/U4_J

“Protectionism, War and the Southern Tradition” by Lew Rockwell (The Costs of War): https://Mises.org/U4_K

“Protectionism: Origin and Effects” by Thomas DiLorenzo (Mises University 2010): https://Mises.org/U4_L

“Free Trade vs. Protectionism” by Carmen Elena Dorobăț (Mises University 2024): https://Mises.org/U4_M

“Free Trade vs. Protectionism” by Shawn Ritenour (Mises University 2022): https://Mises.org/U4_N

“Free Trade vs. Protectionism” by Lucas M. Engelhardt (Mises University 2023): https://Mises.org/U4_O

“Clarifying Economists Arguments about International Trade” by Bob Murphy (Human Action Podcast): https://Mises.org/U4_P

“Do Trump Tariffs Make Sense” (The Bob Murphy Show): https://Mises.org/U4_Q

“Here’s why Trump thinks tariffs are good for the US — and what the experts say” by Aimee Picchi (CBS News): https://Mises.org/U4_R

Subscribe to this monthly podcast at https://Mises.org/Unanimity.

Music: “My Universe” ℗ 2006 Kate Higgins (katehiggins.com). Used with permission.

For just $25, you can receive our December Bundle, including three essential reads: Tom DiLorenzo's Axis of Evil: America’s Three Worst Presidents, Per Bylund's How to Think About the Economy,

Keith Smith, MD is an anesthesiologist and founder of the cash-price Surgery Center of Oklahoma. In the wake of the shooting of UnitedHealth CEO Brian Thompson, Keith explains why US health care is so expensive and how to fix it.

The Surgery Center of Oklahoma: https://Mises.org/HAP479a

Twitter ► https://twitter.com/mises/

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Zachary Yost to discuss a new book, The Source of Russian Aggression by Sumantra Maitra. The three talk about the theory of international realism, its application to the military actions of the Russian state in Ukraine and Georgia, and what it means for better understanding foreign policy broadly.

The Sources of Russian Aggression: Is Russia a Realist Power? by Sumantra Maitra (PDF): https://Mises.org/MaitraBook

"Review: The Sources of Russian Aggression" by Ryan McMaken: https://Mises.org/mises-wire/review-sources-russian-aggression

Donate $25 or more today and receive our December Book Bundle: https://Mises.org/RadioRothbard24

The World at War by Ralph Raico: https://Mises.org/RaicoWar

Get your “Murray Christmas” Ugly Christmas Sweater: https://Mises.org/Ugly

Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard

Radio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug

The Biden administration, and the political establishment more broadly, is scrambling to ram through policies that a majority of voters just voted against. Their actions expose that their supposed commitment to democracy is a lie.

Read the article here: https://mises.org/mises-wire/establishments-principles-are-fake

Be sure to follow the Guns and Butter podcast at https://Mises.org/GB

Connor O’Keeffe produces media and content at the Mises Institute. He has a master’s in economics and a bachelor’s in geology. https://x.com/ConnorMOKeeffe

Is the black-market economy immune to inflation? It would seem that the price of illegal pot has been declining or steady for several years while legal pot is higher in price and everything else has increased in price. We have all been suffering from higher prices, lower quality, and poor service. Is marijuana the magic elixir for economic performance and a cure for the Fed’s inflation? Might it help make America great again?

Donate $25 or more and receive the December Book Bundle: https://Mises.org/MinorIssues24

Order a free paperback copy of Murray Rothbard’s What Has Government Done to Our Money? at https://Mises.org/IssuesFree.

Follow Minor Issues at https://Mises.org/MinorIssues.

If you thought federal deficits and spending would go back to normal after the covid panic, you were wrong. If anything, deficits are now on track to be bigger than the covid years.

Be sure to follow the Loot and Lobby podcast at https://Mises.org/LL

For just $25, you can receive our December Bundle, including three essential reads: Tom DiLorenzo's Axis of Evil: America’s Three Worst Presidents, Per Bylund's How to Think About the Economy,

Using the heavily marketed movie "Wicked" as his news hook, Bob explains that the beloved Wizard of Oz movie involved an allegory of the bimetallism debates of the late 1800s, including William Jennings Bryan's famous "Cross of Gold" speech. Bob fills in the details about the Wizard of Oz lore, and then explains the economics of bimetallism in the United States.

Bob's Book, Understanding Money Mechanics: https://Mises.org/HAP478a

The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at https://Mises.org/HAPodFree

Twitter ► https://twitter.com/mises/

Mises Institute President Tom DiLorenzo joins Ryan McMaken to look at the many ways that the taxes, known as “tariffs,” destroy wealth and empower the state.

Donate $25 or more today and receive our December Bundle Special: https://Mises.org/RadioRothbard24

Register for Educating for Liberty: Mises Circle in Tampa, Florida, on February 22, 2025: https://mises.org/events/educating-liberty-mises-circle-tampa

Anatomy of the State by Murray Rothbard: https://mises.org/Anatomy

Get free copies of What Has Government Done to Our Money? at https://Mises.org/RothPodFREE

Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard

Radio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug

Progressives are openly cheering the murder of the CEO of UnitedHealthcare. However, it was progressive legislation that created this healthcare crisis in the first place.

Read the article here: https://mises.org/mises-wire/progressivism-and-murder-health-insurance-ceo

Be sure to follow the Guns and Butter podcast at https://Mises.org/GB

Connor O’Keeffe produces media and content at the Mises Institute. He has a master’s in economics and a bachelor’s in geology. https://x.com/ConnorMOKeeffe

Mark Thornton discusses why increased government spending not only explains ongoing wayward increases in the GDP, employment, and stock price numbers, but also why so many people decided to vote against the incumbent in favor of the challenger, Donald Trump. The key variable is that government spending in GDP statistics does not reflect true economic value the way your personal spending does.

“Federal Government: Current Expenditures” (Federal Reserve Bank of St. Louis): https://fred.stlouisfed.org/series/FGEXPND

Donate $25 or more and receive the December Book Bundle: https://Mises.org/MinorIssues24

Order a free paperback copy of Murray Rothbard’s What Has Government Done to Our Money? at https://Mises.org/IssuesFree.

Follow Minor Issues at https://Mises.org/MinorIssues.