“As soon as one gives up the conception of a freely established monetary price for goods of a higher order, rational production becomes completely impossible.” – Ludwig Von Mises
Donald J. Boudreaux
Your building your own deck would be worthwhile only if your cost of doing so is less than the cost of having someone else, such as Jones, build it for you.
If quotas on immigration are an essential tool for protecting us Americans from being terrorized on our own soil, why do we still have no quotas on foreigners who come to America as visitors? Must someone be a resident of the U.S. in order to unleash terror in America?
The coherent and correct case for free trade is, again, a case for unilateral free trade, one that applies to each country individually (with exceptions for isolated circumstances such as national defense).
Allowing prices to rise to heights that accurately reveal the intense desperation of the situation is the surest means of encouraging additional supplies of vital goods to be rushed ASAP to the area.
Do Allegations of Intellectual-Property Theft Justify Protective Tariffs?
If we Americans are indeed made better off the greater are foreigners’ demands for our exports, how are we made worse off by foreigners’ economic success given that such success invariably increases their demands for our exports?
The human mind is the ultimate resource because it, and only it, creates all of the other economically valuable inputs that we call “resources.”
Voice of Capitalism
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