In 1850, Frederic Bastiat wrote in his classic essay, “The Law,” that tariffs are a step toward socialism. In his words, “protectionism, socialism, and communism are basically the same plant in three different stages of its growth.” All three call for government to intervene in the marketplace to influence who gains and who loses.
It’s big Government picking winners and losers. Never works.
Trump seems obsessed with William McKinley and his use of tariffs and has completely ignored the monetary standard in place at the time. Bastiat knew what was up
In game theory, best responses by other players are usually considered and I don’t think that is happening at the moment. And you’ll either have Nash equilibrium, tacit cooperation, or defect/cheat.
Hi michael 🏴☠️🤟😉 nice to meet you 🤝 I find Bastiat’s perspective powerful, especially considering how relevant it still is today. His warning about protectionism and government intervention resonates when we look at the ways tariffs and other forms of economic regulation limit free markets. It’s a reminder that even seemingly small interventions can lead to broader, more centralized control over the economy, often at the expense of individual freedom and choice. True market freedom can only be achieved when we allow competition and innovation to thrive without government interference.
