What exactly are tariffs, and how do they work? How do they drive up prices? Are tariffs a way to protect the U.S. economy from hostile powers like the Communist Party of China? No, not really. Or a way to protect the supply chains on which U.S. military supremacy depends? No, not that either. In short, tariffs are toxic, and we discuss why that is.

In this 2v1 tariff debate, historical economist Phil Magness, faces off against tariff experts, Ian Fletcher & Marc Fasteau in the first ever tariff debate on YouTube!

Senior Fellow Phillip W. Magness is interviewed on RealClearPolitics on SiriusXM radio. Magness talks about the differences between tariffs and income taxes. He coauthored a recent Op-Ed in National Review “Don’t Substitute Tariffs for Income Taxes: You’ll Get Both.” He describes the tension in the Trump administration with goals from tariffs that are at odds. Magness calls it “Schrödinger’s Tariffs.”

Within minutes of his swearing in, President Donald Trump shot out of the starting gate with a burst of executive orders covering everything from immigration, to DEI, to energy, and more. Keeping up with all this, much less making sense of it all, feels kind of like drinking from a fire hydrant. But we take a stab at it in this episode of Independent Outlook, tackling seven or eight of the most pivotal orders.

Californians will be in shock for a long time over the vast firestorms in Los Angeles. We don’t yet know what ignited each fire. But Santa Ana winds are a regular, predictable, feature of regional weather. California environmentalism discourages clearing of public and private land, and stymies upgrades of water delivery systems. And Los Angeles recently trimmed back its firefighting budget by $18 million. “Climate change” is not the culprit.

How will civil liberties survive Syria’s convulsions? Do Trump’s national security appointees form a coherent team? Why is healthcare taking the spotlight now...but in such a sick way? And what about Trump’s economic team? Are these guys primed to deliver low inflation and prosperity? With special experts on deck, we discuss these questions and more on this episode of Independent Outlook.

At this reception and discussion, Gregory J. Robson, Christopher Freiman, Phillip W. Magness, and Emily Nozick discuss Robert Nozick and his classic book, "Anarchy, State, and Utopia," first published fifty years ago. Nozick’s book refuted social-justice statism—but also rankled many conservatives and libertarians. This event coincides with the publication of the Fall 2024 special issue of The Independent Review, featuring scholars who revisit Nozick’s rational, complex, and balanced case for individual liberty and limited government. These scholars not only admire Nozick and deepen our understanding of his seminal work but also honor him with important disagreements and reinterpretations. Selected authors from the special issue will join us.

Is the upcoming new presidential era finally our opportunity to slay the beast of inflation, shrink federal spending, and stabilize the value of our currency? We talk with Judy Shelton, Senior Fellow with Independent, former Trump nominee to the Fed Board, and author of a new book explaining how money is a “moral contract between government and the citizens”--and how its value can be decoupled from the whims of politicians and bureaucrats.