Noah Smith: I owe libertarians an apology

Noah Smith explains why libertarians might have been (kind of) right all along—and why their ideas are more necessary than he thought in the age of Trump.

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In this episode of Just Asking Questions, Reason's Zach Weissmueller and Liz Wolfe sit down with economist and blogger Noah Smith, who published a mea culpa of sorts on libertarianism. "I owe the libertarians an apology," hje wrote on Substack. Once a sharp critic, Smith now acknowledges the enduring relevance of libertarian ideas, especially in light of authoritarian trends on the right and the rise of populist economic interventions on both sides of the aisle.

The conversation spans everything from tech censorship and trade tariffs to industrial policy and the future of libertarian thought. Smith discusses how his views on freedom, economic regulation, and the role of institutions have evolved, and why he believes libertarianism—especially the "thick" variety—still has a crucial role to play in modern politics.

00:00 Reflecting on libertarianism and Trump's rise
06:00 Revisiting financial regulation and the housing crisis
11:00 Thin vs. thick libertarianism
17:00 Censorship, coercion, and the role of private platforms
29:00 Tariffs, trade, and the anti-neoliberal left
37:00 The shifting power dynamics in the Democratic and Republican parties
45:00 Political homelessness and the libertarian intellectual wilderness
54:00 Industrial policy, mRNA vaccines, and the role of government
1:01:00 China, manufacturing, and national security
1:10:00 Argentina, Javier Milei, and libertarian governance in practice