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** Econlib Newsletter
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April 2025
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As global trade debates continue to make headlines, it’s a great time to revisit the fundamental economic concept of tariffs. This month, we’re highlighting some of our most insightful articles and essays that explore the costs and consequences of tariff policies.

📚 Must-Read Content:
* NEW entry in the Concise Encyclopedia of Economics by Douglas Irwin: Tariffs ([link removed]) . Irwin explains why countries impose tariffs and the costs they inflict on their economies as a result.
* Some Aspects of the Tariff Question by F. W. Taussig ([link removed]) Discover the classic examination of tariffs and protectionism from one of America’s leading economists. Taussig’s detailed analysis remains relevant as nations navigate modern trade challenges.
* EconTalk host Russ Roberts shares his insights ([link removed]) into the economics of tariffs and quotas.
* David Henderson revisits a classic ([link removed]) and considers the effects of tariffs on Leonard Read’s famous pencil.
* On the “Reciprocal” Tariff Plan ([link removed]) . Jon Murphy digs into the flawed theory behind President Trump’s new tariffs.
* Scott Sumner considers the cultural effects ([link removed]) of America’s new tariff war, and makes an unsettling comparison.
* In this classic article, Don Boudreaux and Dan Klein explain why the way most people think about trade deficits is wrong ([link removed]) .
* The Great Antidote: Douglas Irwin on Talking About Trade and Commerce ([link removed]) . Irwin helps host Juliette Sellgren unpack what free trade means.

Is there something else you’d like to see? We’d love to hear from you! Share your insights on our social media channels or reach out to us at [email protected] (mailto:[email protected]?subject=&body=) .

With our thanks,
The Econlib Team


** NEW Econlib Articles
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April 2025


** Entrepreneurship in Cuba: Uncertainty, Transaction Costs, and Stifled Potential
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By Gregory Caskey

Caskey examines the economic evolution of Cuba, from its historical challenges to the ongoing impact of political and economic reforms. Caskey’s analysis offers a nuanced understanding of how Cuba's past informs its uncertain future.
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Kenneth Arrow on Health Care: It's Not What You Think

By Michael F. Cannon

Cannon revisits Arrow's 1963 work, "Uncertainty and the Welfare Economics of Medical Care," highlighting often-overlooked insights. Arrow observed that health care markets deviate from perfect competition due to information asymmetries and uncertainties.

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Medicare: We Were Warned

By Walter Donway

Donway critically examines the challenges facing Medicare and questions whether reform or complete abandonment is the more viable solution. An essential read for policy analysts and scholars interested in healthcare economics.

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Silicon Valley Humanists

By Arnold Kling

Kling says of the Palantir leaders’ new nook, “Part of the book is a meditation on start-up culture. But most of the book reads like something a Professor of Classics might have written circa 1985, in the middle of the Decade of Greed, lamenting the students’ crass materialism and lack of interest in Western Civilization or the higher goals in life.”

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** EconTalk: Conversation for the Curious
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The Music and Magic of John and Paul (with Ian Leslie)

At the heart of the success of the Beatles was the creative chemistry and volatile friendship between John Lennon and Paul McCartney. Listen as author Ian Leslie ([link removed]) discusses his book, John & Paul: A Love Story in Songs with EconTalk's Russ Roberts ([link removed]) . It's a deep dive into music and friendship as well as a revisionist history about how John and Paul created musical magic.

Explore more. ([link removed])

More Recent Episodes & Extras:
* Do All Creatures, Great and Small, and Made From Silicon, Have Rights? (with Jeff Sebo ([link removed]) )
* Bird Brains, Bird Sex, and All Kinds of Beauty (with Matt Ridley) ([link removed])
* EXTRA: Lessons from Lincoln, Then and Now by Kevin Lavery ([link removed])
* How Better Feedback Can Revolutionize Education (with Daisy Christodoulou) ([link removed])
* Will Guidara on Unreasonable Hospitality ([link removed])


** No Due Date with Curator Peter Boettke
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** No Due Date is Econlib’s subscription book club. Curated by Peter Boettke, you’ll spend a whole year reading with him exploring the best in economics, the social sciences, and literature- both classic and contemporary.
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