Source: Law & Liberty
by David Hebert
“Matthew Lynn has written a powerful essay in which he chastises the economics profession for being so clearly wrong when it came to the effects of Donald Trump’s tariffs. According to him, when President Trump imposed sweeping and massive tariffs in April, the ‘mainstream economic establishment’ predicted inflation would surge, supply chains would crash, and the economy would be plunged into a deep recession. … Six months later, Lynn argues, none of this came to pass. … For our sins, Lynn insists that we economists must repent, acknowledge our mistake, and address why we ‘big thinkers got this one wrong.’ At a time when experts have been called into question on many fronts, it’s a compelling indictment. There’s just one problem. It’s built on a foundation of selective reading, convenient timing, and a fundamental misunderstanding of what economists actually said and what the evidence actually shows.” (10/20/25)