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In this episode of the weekly Budget & Tax News podcast, research fellow and managing editor Jesse Hathaway is joined by Scott Lincicome, an adjunct scholar with the Cato Institute and visiting lecturer at Duke University. Hathaway and Lincicome talk about how both major political parties used to believe in free-market trade, how both parties have been hijacked by cronyist anti-trade sentiment, and what conservatives can do to make American economic policy great again.
Lincicome, an adjunct scholar with the Cato Institute and visiting lecturer at Duke University, joins the show, explaining why politicians find promoting protectionism easier than promoting real free-trade solutions, and explains how believers in free-market principles can “flip the script” and make free-market principles popular again.
There is a moral case to be made for free trade and people should be talking about freer international trade helps everyday people, Lincicome says, instead of treating international trade deals as scoreboards and worrying about export-import imbalances. By worrying about numerical equality on the ledgers and not worrying about getting the government out of the way of voluntary transactions and exchanges, Lincicome says lawmakers have failed to fight fallacies about how free trade works—ultimately failing the people they serve.