Tariffs
by Willy C. Shih and Veronica Chua
April 9, 2025
Illustration by Daniel Creel
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Summary.
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HBS Emeritus Professor Bruce Scott once compared capitalism to organized sports in which games are governed by a set of agreed-upon rules. Imagine that you are coaching a game in which the rules change every minute. How would you even play? As in sports, businesses need some level of predictability, and it’s highly disruptive when changes occur in the middle of the game.
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Read more on Tariffs or related topics Operations and supply chain management and Managing uncertainty