If you really want to understand the impact of tariffs, start by learning how to calculate "deadweight loss" and consumer and producer surpluses. There are a million YouTube videos on the subject, I think Kahn has one.
It's not something most people can grok in the time it takes to read a comment. Might take thirty minutes, or learning and thinking about it over the course of a week.
But it lead to a pretty profound eureka moment for me, I think it's worth understanding.
When economists do the full analysis, the cost per job saved usually ends up being many multiples of the yearly salary:
http://www.aei.org/wp-content/uploads/2017/01/MFG-1.png
If you really want to understand the impact of tariffs, start by learning how to calculate "deadweight loss" and consumer and producer surpluses. There are a million YouTube videos on the subject, I think Kahn has one.
It's not something most people can grok in the time it takes to read a comment. Might take thirty minutes, or learning and thinking about it over the course of a week.
But it lead to a pretty profound eureka moment for me, I think it's worth understanding.