“Capitalism, says Marx, unthinkingly repeating the fables of the eulogists of the Middle Ages, has an inevitable tendency to impoverish the workers more and more. The truth is that capitalism has poured a horn of plenty upon the masses of wage earners who frequently did all they could to sabotage the adoption of those innovations which render their life more agreeable. How uneasy an American worker would be if he were forced to live in the style of a medieval lord and to miss the plumbing facilities and the other gadgets he simply takes for granted!” —Ludwig von Mises, Human Action
The Greatest Tariff Speech in Congressional History
Donald Trump is bringing his idolatry of high tariffs back to the White House. Trump proclaims that “tariffs are the greatest!” and that “tariff” is “the most beautiful word in the dictionary.” Vast numbers of his Republican supporters will echo any dubious dogma that...