Not long after President Donald Trump announced “Liberation Day” on April 2, 2025, reactions at home and abroad ranged from protracted stock market volatility to suspense and speculation about megadeals to come. But one thing was clear: this administration was going to wield tariffs forcefully and frequently on the rest of the world at a…

Hirschman is simply different from typical economists. He could certainly “do the math.” But when one reads him, he gives the impression that he is working up the numbers and setting up the Marshallian graphs and curves more to satisfy his academic colleagues and less to persuade his wider audience. Hirschman’s approach to economics was always grounded in historical and experiential reality…