Welcome to The Lost Debata Show for Politically Ecclectics. I'm Ravi Gupta, and today I'll be talking about terrorists.

And I'm bringing on Philip Magnus, who works at the Independent Institute, and he was formerly the senior research faculty and the FAA Hayek Chair in Economics and Economic History at the American Institute for Economic Research.

He has a Ph.D., an MPP from George Mason, and he has written in all kinds of publications

from the New York Times, political, reason, national review, Cato, Wall Street Journal.

And the reason why I brought him on is because he, of all the people I've read about tariffs,

he seemed like the person most primed to want to nerd out on the history of tariffs all the way

up to present day policy with Biden and Trump.

And that's exactly what we did.

And this is one of those episodes for the nerds out there, like truly when we're talking

about what's going to be the effect of Trump's tariff policy,

what's the history there, what can we say for sure about what tariffs have done,

either to or for the American and global economy.

Philip has a lot of thoughts on this, and he actually represents a school of conservative thought back when

conservative thought was more associated with places like the Cato Institute that were more free

market economics, like the Milton Friedman type conservatives. And so we also talk about, well,

what's happened within the Republican Party, where now they've evolved to more pro-tariff party, more in line with the more

left-wing segments of the Democratic Party. We talk about all of that. You're really going to enjoy

this episode. Let's jump right in. Phil, welcome to the podcast.

Happy to be here.

Well, Phil, you about a year ago and some change wrote a piece called The Problem of the Tariff in American Economic History for Cato.

I imagine you might have been anticipating this moment.

It feels like it in reading that piece.

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