Scott here with another episode of the History Unplug podcast.

Arguments about economics are back like they've never been before.

Many Americans didn't think about tariffs or inflation, much at all until the last few years,

because there wasn't much public debate about them until going back as far as the 70s or 80s.

With questions about whether tariffs will revitalize U.S. manufacturing and reshorred

industries that have fled, or they'll make the cost of goods on Amazon, quadruple, or quintuple

overnight, there's a whole lot of looking back at tariffs in America's histories and whether

or not they worked or if they crippled innovation. For example, the argument is also about trade.

Did it hollow out U.S. manufacturing and turn the Midwest into the rust belt?

Or have tariffs like the Quorum Oz in Britain hurt working class families the most?

And is capitalism itself ultimately to blame?

Was the Great Depression of failure of capitalism?

Or was it a policy crisis worsened by poor monetary

responses and overreach? Today's guest is Phil Graham, a former U.S. Senator and author of the

triumph of economic freedom, look at five periods in American history, the Industrial Revolution,

the Progressive Era, the Great Depression, the decline of America's post-war preeminence and

world trade, and the Great Recession, looking at when government intervention and America's economic life worked and when it didn't work.

Hope you enjoyed this discussion.

And one more thing before we get started with this episode, a quick break for a word from our sponsors.

I don't think tariffs have ever been as timely a topic as they are today until about four years ago.

You wouldn't hear them unless you were hearing a story from an uncle who bought a house during the Carter administration and complained about the 12% mortgage rates.

But it's back in a way it never has been before. So with all the discussion that you hear about with tariffs, what do you think is missed, whether it's people

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