Source: Bet On It
by Bryan Caplan
“Trump’s tariff mayhem has crashed stock markets across the globe. His loyalists are searching for silver linings in these dark clouds, without success. But if you value insight for its own sake, there is indeed a silver lining to be found. While few Americans will profit from this demagogic nonsense, this is a fine opportunity to learn deep lessons about not just trade, but economic policy in general. … Doing nothing would have been far better than doing what he did. Contrary to the famed Dr. Pangloss, all is not ‘for the best in this, the best of all possible worlds.’ Once you accept this anti-Panglossian point, however, you ought to wonder: Are there any pre-2025 policies that have already done damage on the scale that Trump is now inflicting on the global economy?” (04/14/25)