Howard Marks on Tariffs: Repealing the Laws of Economics: www.oaktreecapital.com/insights/mem... - ThreadSky

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ritholtz.bsky.social • 7 days ago

Howard Marks on Tariffs: Repealing the Laws of Economics:

https://www.oaktreecapital.com/insights/memo/more-on-repealing-the-laws-of-economics

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ritholtz.bsky.social•6 days ago

"Tariffs are, primarily, an effort to cause goods to be made domestically even when equivalent foreign goods are cheaper or better (or both). Governments can make that happen by erecting barriers that keep foreign goods out or make them more expensive."

ritholtz.bsky.social•6 days ago

"That protects domestic industries and domestic workers, but at the expense of domestic consumers (and global welfare). That’s a tradeoff – the kind of thing free markets require and leaders who would mandate economic outcomes would prefer to ignore."

westernbirding.com•6 days ago

Not to mention no one even makes most of the stuff here

stirlingnewberry.bsky.social•6 days ago

The science is moving forward, as the policy moves backward.

armholster.bsky.social•6 days ago

I agree. Economic prosperity and stability are best fostered by allowing market mechanisms to function largely unimpeded, with government intervention reserved for mitigating consequences rather than dictating outcomes.

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