In this 1990 lecture, Leonard Peikoff offers an audience interested in business his perspective on whether free-market capitalism can survive. Peikoff identifies three pillars of capitalism—examining each one’s status in the present day. He also leads the audience through a quick sweep of American history, commenting on the decline in freedom over time.
Tariffs Are Awful, but the Income Tax May Be Worse
If Mr. Trump completely eliminates the IRS and the hated income tax along with it, there may be a reasonable case for increasing tariff rates.