Capitalism

Moral certainty is always a sign of cultural inferiority. The more uncivilized the man, the surer he is that he knows precisely what is right and what is wrong. All human progress, even in morals, has been the work of men who have doubted the current moral values, not of men who have whooped them up and tried to enforce them. The truly civilized man is always skeptical and tolerant, in this field as in all others. His culture is based on "I am not too sure." -H.L. Mencken, writer, editor, and critic

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The empirical literature from dozens of countries over many decades again confirms the theory: In case after case after case—and regardless of the model used—economists have found that tariffs reduce national economic output and make a nation worse off on net, while tariff liberalization generally does the opposite.

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Is a reaction developing against the management of the debate in sympathy for Trump?

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Capitalism

The incredible success of the last two hundred years has been defined by its enemies. 'Capitalism' is a strange term encompassing freedom, markets, social attitude, enlightenment principles, and competitive risk with success and failure. It is inadequate but McClosky has a reasonable correction of its nature:

'“Capitalism” is a misleadingly loaded and scientifically foolish word, imposed over a century ago by followers of Marx. A scientifically more accurate word for what happened after 1800 is “innovism.” Explosive innovation in the past two centuries has made the poor rich, now even in China, and coming along in India. The Swiss, for example, have escaped from the grim business plan of exporting young men into the wars of Europe, and have become instead one the richest of nations, festooned with BMWs and central heating and educations in three or four languages. The Great Enrichment of the Swiss, rising from $3 a day in 1800 to well over $150 a day now, happened because its bourgeoisie in the past two centuries steadily, gently set aside the aristocratic and priestly passions that had troubled Europe for so long. Not that such passions entirely disappeared. They pop up in Putin’s Orthodox nationalism and Maduro’s holy socialism, in both cases to justify tyranny.'