AskProfWolff: Tariffs as Market Manipulation

AskProfWolff: Tariffs as Market Manipulation

A patron asks: Trump’s Mexican tariffs seemed to come without any prior publicity. Gold began to climb and I would expect that other commodities did as well. Is it possible that the Mexican tariffs are just decoration on market manipulation?

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[thepeopleshistoryofus]

I have learned more from watching Richard Wolff over the past year than 4 years of university.

[rickyspanish-]

San Antonio Texas luvs you.... keep up the great work

[laxtose]

Why can't I sell my vote? Politicians and representatives sell their votes to corporations.

[consciouscrypto]

Not only that, but the Fed then lowers interest rates to keep the stock market propped up instead of letting it provide honest feedback on the economic effects of the trade wars!

[terrybullspellr]

So...Everytime something is tariffed, a dollar gets it's wings...and flies out of my wallet.

[stevemora]

Greetings from El Paso Texas! Hope you can make it down here sometime.

[itzenormous]

It doesn't really matter either way, because as Lenin illustrated in "Imperialism: The Highest Stage of Capitalism" whether you're a protectionist or a free-trader, the tendency of Capital is toward monopoly and the formation of cartels. And both scenarios, in their own way, help to achieve that consolidation in the markets.

[ericmanuel]

Teaching us all American people to know & learn is a good for humanity! I salute you for spreading the right truth for all American people to know!!!!Thank you &God bless America

[wolfganghager]

While I generally agree, Wolff should have adressed directly the argument that tariffs will cause people to buy US goods (import substitution).

[nthperson]

I have made this comment previously in response to Professor Wolff's analysis of the impact of tariffs and other trade restraints. One of the best (perhaps the best) book on trade was written by the American political economist Henry George. George was a strong proponent of "free trade" but trade that is conducted without the burden of monopoly privilege under the system of taxation. George argued that the failure of government to collect land rents (and rents generated by land-like assets) prevents the benefits of free trade from being realized by the general population.

[slightlygruff]

Richard, thank you for your time to answer those questions! You are very interesting to Russian and Chinese marxists as you've probably noticed. However most people here don't understand your idea of co-ops. They say that co-ops will still have to compete, and in the course of cut throat competition people can't really become socialists

[winstonwirht]

Dear Prof. Wolff, would you please elaborate on the issue of "stock buybacks" by large corporations. Why they do it....who what are other effects related to this issue.

[bluewater]

*I am stunned;*
Mr Wolff just gave practically every talking point that a conservative would use for not raising taxes (which is what a tarrif is). Just change the subject from a tarrif on international trade to a tax on domestic "trade", and you would have the conservative montra in a nutshell. Suddenly Prof Wolff sounds like a real economist!

...so why do these talking points apply to one form of "trade" and not the other? I would love to hear an explanation for that(even though I already know the answer).

[leroitiaks]

While I do understand the rational behind a critic of the tarifs, from an environmental perspective, isn't it better to maintin tarifs in order to promote local production (also good for jobs) as well as a reduction in the huge environmental impact of international transportation? R.D. Wolff should address this issue and broaden the perspective.

[troywalkertheprogressivean]

trump has stated, "i do better in bad markets than in good ones"

[이환식-bb]

How door opened it's because to door sound bells over walls. It's the stuff of the video written English.

[guestaug]

I have a different question for prof Wolff: why is one of the stated goals of the Fed making sure that inflation in the U.S. is always at at least 2%. Why does normal, well-functioning economy require perpetual inflation (devaluation of our currency)? What would be wrong with having prices slowly decline?

[truemadison]

when they retaliate, trump became a cry baby and said "u can't do that!"

[alrhayul]

I was thinking about the possibility of Trump's tariffs functioning as an underhanded tax on the average person to balance the 2017 tax cuts, further widening the wealth gap in the country.

[shirleydiwert]

You Rick, Mike Hudson, Chris Hedges need to be in DC busting Union Confess, making them listen to make changes