The Supreme Court’s 6–3 decision invalidating Donald Trump’s emergency tariffs, followed almost immediately by the President’s response reinstating and increasing them, reminds us once again how rapidly American politics evolves. Yet, in some cases, it pays to recognize that certain underlying threads in government policy remain constant, regardless of the period or the leaders in charge. Too often, so-called “experts” weigh in on current events without any real command of economic history. Consider the outrage among prominent Republicans over Trump’s bombastic campaign promises and what his