5 Basic Principles of Economics

Thinking Like an Economist

Tag: Tariffs

  • Careless Economics: A Trillion Dollar Math Problem

    Careless Economics: A Trillion Dollar Math Problem

    On April 2, 2025, President Trump displayed a poster which listed countries and the “reciprocal” tariffs to be imposed on their imports quickly. Reporting by CNN and others shows that the numbers are justified by this formula. Many media noted how amazingly stupid this formula is. Arithmetic errors are embarrassing, if you are in Grade…