Ep. 384 Explaining Optimal Tariff Theory and Its Relation to Standard Free Trade Arguments

In yet another crossover episode, Adam Haman and Bob discuss the fiery showdown between Ukraine's Zelensky and the US president and VP, on live television, from the Oval Office. As usual, Adam and Bob bring up points that others have neglected.Mentioned in the Episode and Other Links of Interest:The YouTube version of this episode.The Haman Nature page.Help support the Bob Murphy Show.

In another crossover episode, Adam Haman joins Bob to discuss deep theological questions. As usual, they strive to provide new angles on age-old problems.Mentioned in the Episode and Other Links of Interest:The YouTube version of this episode.BMS ep 295, where Christian Hubbs present historical evidence for the resurrection of Jesus.The Haman Nature page.Help support the Bob Murphy Show.

Jimmy Morrison is a filmmaker who, with Tom Woods, created the original documentary "The Bubble," featuring interviews with several Austro-libertarian experts, including the host of the Bob Murphy Show. Jimmy explains the sequels to the film and his other work.Mentioned in the Episode and Other Links of Interest:The YouTube version of this interview.LetUsDisagree.com, the site for all Bubble films from Jimmy.The link for Monetary-Metals.com.Help support the Bob Murphy Show.

In another crossover episode, Adam Haman joins Bob to discuss the phenomenon of arguing with midwits on social media. They. beautifully illustrate the bell curve meme. Examples include the COBOL red herring regarding DOGE and Social Security, as well as Krugman's handling of the claim that excessive debt "burdens future generations."Mentioned in the Episode and Other Links of Interest:The YouTube version of this episode.Justin Wolfer's tweet endorsing the COBOL theory.Bob's EconLib article on government debt burdens.The Haman Nature page.Help support the Bob Murphy Show.

Mikkel Thorup is founder and CEO of ExPat Money. He joins Bob to discuss various geopolitical events, including Trump's talk of grabbing the Panama Canal and Greenland, as well as the dollar's shrinking importance in the global economy. He gives thoughts on the importance of setting up a "Plan B" of assets and living arrangements outside your home country.Mentioned in the Episode and Other Links of Interest:The YouTube version of this interview.Mikkel Thorup's Expat Money Show. His Wealth, Freedom, and Passports conference in March 2025.Thorup's article on Trump wanting the Panama Canal.The link for Monetary-Metals.com.Help support the Bob Murphy Show.

Bob first explains the neoclassical theory of "optimal tariffs," by which a large country can use a modest tariff to improve its terms of trade. He then shows how this theoretical possibility is consistent with standard arguments making the case for free trade.Mentioned in the Episode and Other Links of Interest:The link for Monetary-Metals.com.Fed Reserve Bank of Richmond piece on optimal tariff theory.Bob and Josh Hendrickson discuss Stephen Miran's strategy for using tariffs to help the US position.Bastiat's "Petition of the Candlemakers."Bob on the Human Action podcast clarifies comparative advantage.Bob interviews Brian Domitrovic on economists having a biased view of tariffs vs. income taxes.Help support the Bob Murphy Show.

Adam Haman returns to discuss yet another whirlwind of activity from the Trump Administration, including dismantling of the USAID program and his announcement that the US it taking ownership of Gaza.Mentioned in the Episode and Other Links of Interest:The YouTube version of this episode.Trump announcement on Gaza.The Stephen Miran report on trade reform.Dave Smith setting up the Elizabeth Warren clip.The Haman Nature page.Help support the Bob Murphy Show.

The executive editor of the Libertarian Institute, Sheldon Richman, joins Bob to push back against the popular use of the term "corporate" as a pejorative. They cover both cultural and theoretical issues.Mentioned in the Episode and Other Links of Interest:The YouTube version of this episode.Sheldon Richman's post on the term "corporate." His bio at the Libertarian Institute.Murray Rothbard's essay on Michael Milken.Help support the Bob Murphy Show.

In yet another crossover, Adam Haman returns to discuss the recent admission by the feds that the origin of Covid-19 was probably the Wuhan lab leak. Adam and Bob then discuss the age-old question, "If you could go back in time and find baby Hitler, would you...?"Mentioned in the Episode and Other Links of Interest:The YouTube version of this episode.The Haman Nature page.Help support the Bob Murphy Show.

Fergus Hodgson is originally from New Zealand but has lived in several countries. His new book explains that the prospects for being an ex-pat in Latin America don't live up to the hype.Mentioned in the Episode and Other Links of Interest:The YouTube version of this episode.Fergus Hodgson's homepage. His book The Latin America Red Pill.Help support the Bob Murphy Show.