Ep 319 – Thomas DiLorenzo

September 21, 2017
September 21, 2017 Tim Preuss

Ep 319 – Thomas DiLorenzo

Thomas DiLorenzo is on the line to dispel with a number of economic fallacies surrounding the “new” idea of “economic nationalism”. The ideas in fact aren’t new, and although DiLorenzo is a part of the Austrian school of economics, tariffs and protectionism have been almost universally agreed on by economists throughout history to be poor policies.

Americans are complaining about “China” “stealing” “intellectual property”, but realistically, intellectual property has been stolen over and over again for thousands of years. Americans steal Chinese ideas too, and ultimately it doesn’t matter if the idea is stolen. What matters is a low cost product to the consumer.

After DiLorenzo departs, Tim reads a short piece written in 1992 by economist Walter E Williams that does away with the myth of trade deficits. Clue: They don’t really exist.

Trade Deficit Nonsense by Walter Williams


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Tim Preuss

Tim Preuss is the founder and CEO of Preuss Media LLC. Along with writing for PreussPodcast.com, he hosts the Tim Preuss Podcast Monday through Friday, available on iTunes, and regularly interviews prominent personalities within the liberty community.