This podcast episode from NPR's Planet Money examines the effectiveness of the McKinley Tariff of 1890 on the American tinplate industry, using it as a case study for protectionist trade policies. The hosts discuss the tariff's impact, interviewing an economic historian who analyzes whether the tariff truly fostered the industry's growth or if other factors were more significant. The historian's research suggests that while the tariff did help, the industry would have developed anyway due to decreasing iron and steel costs, albeit a decade later. This analysis challenges the notion that the McKinley Tariff was an unqualified success and prompts reflection on the costs and benefits of protectionist policies. The episode concludes by highlighting that the long-term costs to consumers may have outweighed the benefits to the tinplate industry.
