Tuesday , December 18 2018

Tariff Man

Summary:
Some good economics in Tariff Man, sung to the tune of Piano Man (with apologies to Billy Joel) by Art Carden: Now Paul is a real estate contractor He’d like to buy things for his wife But he canceled a deal because structural steel’s More expensive—it’s doubled in price! And the firms are all practicing politics As their businessmen fly to DC! Yes, they’re spreading a problem called poverty, And calling it prosperity! Jack up that tax, you’re a Tariff Man! Let’s make Americans pay For the right to buy stuff from those foreigners– We should make it here, anyway! These policies concentrate benefits And they spread costs to you and to me These costs are concealed, but see, they are still real— They are there, though they’re harder to see. Some goods are expensive that shouldn’t be Because

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Some good economics in Tariff Man, sung to the tune of Piano Man (with apologies to Billy Joel) by Art Carden:

Now Paul is a real estate contractor
He’d like to buy things for his wife
But he canceled a deal because structural steel’s
More expensive—it’s doubled in price!
And the firms are all practicing politics
As their businessmen fly to DC!
Yes, they’re spreading a problem called poverty,
And calling it prosperity!

Jack up that tax, you’re a Tariff Man!
Let’s make Americans pay
For the right to buy stuff from those foreigners–
We should make it here, anyway!
These policies concentrate benefits
And they spread costs to you and to me
These costs are concealed, but see, they are still real—
They are there, though they’re harder to see.
Some goods are expensive that shouldn’t be
Because tariffs have made them cost more!
And we’d have more for bars, and put bread in their jars
But we’re stopping goods at our shores!

La la la, di da da
La la, di da da da dum

Jack up that tax, you’re a Tariff Man!

The post Tariff Man appeared first on Marginal REVOLUTION.

Alex Tabarrok
Alex Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University and a professor of economics at George Mason University. He specializes in patent-system reform, the effectiveness of bounty hunters compared to the police, how judicial elections bias judges, and how local poverty rates impact trial decisions by juries. He also examines methods for increasing the supply of human organs for transplant, the regulation of pharmaceuticals by the FDA, and voting systems.

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