Trump’s China Blunder

Trump’s China Blunder

By mistaking the real nature of international trade, the costs of tariffs, the effects of currency movements, and the supposed ease with which the United States could quickly re-establish itself as a low-cost manufacturer, Trump risks shredding the safety nets that have undergirded the U.S. economy for decades and plunging us into a war we are ill-equipped to fight.

Free Trade vs. The Folly of Protectionism

Free Trade vs. The Folly of Protectionism

Protectionism fully implemented across all industries would mean a lower standard of living, because it would result in capital and labor unnecessarily being diverted into the production of goods that could more economically be produced elsewhere.

Celebrate Capitalism This May Day

Celebrate Capitalism This May Day

We should not only allow global capitalism; we should welcome it and foster it in every way possible. It is time to rephrase Karl Marx: Workers of the world unite for global capitalism; you have nothing to lose but your poverty.

Fallout from the Trade Wars

Fallout from the Trade Wars

The president pledges to “make America great again,” which is a crucial and noble sentiment. But protectionism only hurts rather than helps do that job.

The Best Response to Foreign Tariffs? Lower Your Own

The Best Response to Foreign Tariffs? Lower Your Own

The fact is, while the U.S. and the major European countries have emphasized the idea and benefits from free trade, all of these governments impose various types of tariff and other barriers to shelter selected sectors of their respective economies.

Tariff Wars (and the Fallacy of the Balance of Trade)

Tariff Wars (and the Fallacy of the Balance of Trade)

The world may be on the brink of a series of trade wars between the United States and both the European Union and China. All the parties say they don’t want this — though President has asserted that trade wars are not a problem and easy to win. That remains to be...

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