Though widely opposed if not despised – including by many Republicans – the Trump Administration’s trade policy is delivering impressive results, writes Henry Olsen at Commonplace. Tariffs will likely haul in US$360 billion this fiscal year – while recession is nowhere in sight. Growth is strong, wages are rising, unemployment is barely 4 percent (vs. Canada’s 7 percent) and stock markets are setting records. Tariffs, Olsen suggests, could become the new orthodoxy.
At Least He Paid his Losing Bet
Paul Ehrlich, author of the spectacularly incorrect 1968 best-seller The Population Bomb, recently died at 93. Despite his longevity, Ronald Bailey points out in Reason, Ehrlich did not live to see even one of his numerous apocalyptic predictions come true. The world’s population certainly grew, but not merely larger, richer and fatter too. Most famously, Ehrlich once bet economist Julian Simon that the world was approaching economic collapse – but in 1990 had to mail Simon a cheque.
