Trump, Statism, and the Free Market Mirage: A Libertarian Wake-Up Call

Libertarian Illusions: The Trump-Free Market Myth

Many libertarians once clung to the belief that Trump, despite his flaws, leaned toward free-market values. That illusion is dead.

As Rockwell reminds us, Trump’s policies—particularly on trade, monetary manipulation, and corporate favoritism—have veered far from the Austrian school of economics. And he’s right. Trump talks a good game on business freedom and deregulation, but when it comes to practice, he’s wielded state power like a hammer.

Tariffs: Taxation by Another Name

One of the most egregious examples of Trump’s economic statism lies in his chaotic and impulsive tariff policies. Rockwell quotes Ron Unz to devastating effect—likening Trump’s tariff whims to the mood swings of mad emperors.

And it’s true: tariffs are taxes. They're not levied on foreign governments. They're levied on Americans who buy foreign goods. They distort markets, punish consumers, and invite retaliation. That’s not capitalism. That’s state-managed economic warfare.

Trump’s so-called “Liberation Day” tariffs were less about economic liberation and more about control, and they were implemented with reckless abandon, violating constitutional principles and economic stability. I agree fully with Rockwell here—this is not free market policy. It’s mercantilist madness.

Sound Money Betrayed: Trump vs. Austrian Economics

One of the most damning sections of the article deals with Trump’s love affair with cheap money. He wants low interest rates to juice the stock market and inflate GDP numbers. Why? Because it looks good politically.

But according to Austrian Business Cycle Theory (ABCT), this is a recipe for disaster. Artificially low rates create bubbles. Those bubbles pop. And when they pop, working Americans pay the price.

Trump said outright that the next Fed chair must agree with his views or he won’t appoint them. That’s not capitalism—that’s central planning through the back door.

I agree 100% with Rockwell here: Trump is an inflationist. He’s undermining monetary discipline in the pursuit of short-term optics. The Fed is bad enough as it is—politicizing it only accelerates our descent into economic chaos.

Crony Capitalism and Presidential Profit: The Trump Empire Grows

Rockwell calls out Trump’s personal profiteering during and after his time in office, noting expansion into crypto, finance, communications, and energy—all while regulating those same sectors. Conflict of interest? You bet.

We’re supposed to be a country of laws, not one where leaders use the state to grow their private empires. Trump, like many before him, crossed that line.

But here’s where I’ll temper Rockwell’s criticism: this behavior isn’t unique to Trump. Every modern president—Bush, Obama, Clinton—walked out of the White House into a multi-million-dollar payday. The real scandal is how normalized this grift has become. That’s the true rot, and it runs far deeper than Mar-a-Lago.

Peace or Power? Trump’s Foreign Policy Hypocrisy

One of the most powerful parts of the article is Rockwell’s dissection of Trump’s hawkish foreign policy, particularly toward Venezuela.

Despite campaigning on ending “forever wars,” Trump pushed for global dominance, used the CIA for regime change, and seized foreign vessels under the guise of sanctions.

Jeffrey Sachs paints Trump’s National Security Strategy as a blueprint for imperial thuggery—anchored in arrogance, dismissive of international law, and devoid of restraint. Again, I agree with Rockwell here: this is not America First—it’s Empire First.

You can’t call yourself anti-interventionist while authorizing drone strikes and covert ops in Latin America. That’s the neocon playbook with a red hat on.

The Boat Strike: State Violence Without Accountability

Rockwell ends with a gut-punch: the drone strike on a suspected drug vessel, allegedly followed by an order to leave no survivors.

If the reporting is accurate—and I’ll note it’s based on mainstream sources like the Washington Post, which deserve skepticism—then this was a moral and strategic failure. Killing unarmed survivors clinging to wreckage is not self-defense. It’s a war crime.

Now, the Trump Administration denies direct involvement, claiming it was within “rules of engagement.” Maybe. But even if that’s technically legal, it’s wrong. This is not how a moral republic behaves.

Still, I’ll add a note of caution: we’ve seen how the media manipulates stories to smear Trump. Without concrete, independently verified evidence, we should be careful not to accept every narrative at face value. But the broader point stands—war breeds atrocity, and Trump embraced war when he said he wouldn’t.

What Rockwell Gets Wrong—or Leaves Out

Rockwell’s article is a necessary slap to the face of those who blindly worship Trump. But let’s not forget a few key points:

• Statism didn’t begin with Trump. Bush’s Patriot Act. Obama’s drone wars. Clinton’s trade regime. Trump didn’t invent imperial presidency—he inherited it and used it in his own way.
• The Deep State fought Trump at every turn. Rockwell ignores how Trump was constantly undermined by unelected intelligence agencies, diplomats, and bureaucrats. His pivot to more aggressive foreign policy may have been a concession to these forces—not his natural inclination.
• The Left is worse on economics. Trump’s inflationary instincts are bad, but Harris and the modern Democratic Party openly champion MMT (Modern Monetary Theory), universal welfare, and climate socialism. Trump may be a statist, but at least he doesn't preach communism dressed in green.

In short: Trump is no Rothbardian. But that doesn’t make his opposition the champions of liberty.

Conclusion: Trump Isn’t the Answer—but He’s Not the Only Problem

Libertarians need to wake up. Trump is not the free-market warrior many hoped for. He’s an economic nationalist with statist impulses, a soft authoritarian when it suits him, and a man who uses power to reward loyalty and punish enemies. That’s not the Founders’ vision of a republic.

But let’s also be honest: the entire system is broken. Trump may be part of the problem, but he’s also a symptom of a deeper disease—a government captured by elites, intoxicated with power, and detached from constitutional limits.

Rockwell’s critique is vital and timely. But we need to go even further. We need to rebuild from the ground up, starting with sound money, non-intervention, and a true separation of business and state.

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