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. http://blog.independent.org/2019/02/19/tariffs-cause-americans-to-accept-inferior-deals/
blog article
TARIFFS CAUSE AMERICANS TO ACCEPT INFERIOR DEALS
Suppose I decided to go back into the business of being a professor of economics specializing in economic history in the USA. Suppose further that 100 jobs are available, and 101 applicants for these jobs have been ranked by the hiring institutions. Everyone agrees that I am the worst of the lot. Each of the applicants is willing to work at the going rate. However, before any hires can be made, the government lays a 500% tariff on the services of imported economic historians, and it turns out each of the applicants except me is a foreigner. Given the tremendous increase in the salary that would have to be paid to (superior) foreign sellers of the service, I get a hundred job offers even though I am by general agreement the worst of the bunch. ROBERT HIGGS READ MORE