If free trade is so good, why is protectionism so popular? Part of the answer lies in a simple political principle — interests that are concentrated (those of the producer) are more politically effective than interests that are diffused (those of the consumer). Protection does not create jobs or move goods; rather, it forces us to expend greater effort to get the goods we produce, since they cost more to produce at home than abroad. Hear about the damage protectionism has done and why free markets are so misunderstood.
Today’s podcast is titled, “Property and Freedom, Part 1.” Ronald W. Jones, Xerox Professor of Economics at the University of Rochester, and Richard Pipes,...
The late U.S. Supreme Court nominee Robert Bork and the late Nobel Prize winner Friedrich von Hayek engage in a lively discussion of the...
Today’s podcast is a discussion that was originally recorded in 1978 between legendary economist Friedrich Hayek and then economics graduate student Jack High. As...
