As fields of study, history, philosophy and economics are matters of perspective, fallible assessments of truth. In reality, they are the attempt at capturing the essence of life, the product of affection, avarice, preference, passion, and — in their highest forms — love. They are mankind’s best effort at seeking to understand, or otherwise distort, the most fundamental questions before us: what drives human action, and what is our purpose on planet earth?
Over the course of President Trump’s two terms, there has been much talk around the matter of tariffs — taxes on imported goods. However, much of the talk seems to miss the point. After all, for those of us who seek the truth, it’s not really a question of whether tariffs are ‘good’ but whether they are preferable to other kinds of taxes — assuming, of course, that taxes are the rule, as certain as the eventuality of death. First, let’s establish the theory: beyond the generic purpose of revenue generation for the state, the institution of tariffs ordinarily serves to reduce (or discourage) imports by making them artificially more expensive, while encouraging domestic production by making domestic products more appealing on a relative price basis. In the realm of foreign affairs, tariffs are instituted or threatened in the course of international trade negotiations in order to signal dissatisfaction with existing trade barriers and to push for more favorable trade terms; or in ord...
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