Trade

Fair Trade Is Still a Fraud

Government cannot make trade more fair by making it less free.

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.

President Donald Trump is a Classic Mercantilist

Trump is a classic mercantilist. A mercantilist favors exporters over importers and the use of government tariffs to promote (or “protect”) less efficient, but politically favored “national champion” companies against their foreign competitors.

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.

Medical-Supply Nationalism vs Free-Market Capitalism

When there is a shortage of medical supplies, going out of our way through nationalism, mercantilism, and “protectionism” to make them more expensive will hurt people. Free-market capitalism and free-trade amongst nations is the rational solution.

The Case for Global Capitalism

The human condition has been and can continue to be radically and amazingly improved, if only personal freedom and free markets are allowed to work their wonders on our global community of free trade and networks of voluntary association.

Case for Unilateral Free Trade (with Exceptions)

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).

How Much Damage Will Come from this Trade War?

First, the good news: the U.S. and world economies have not imploded, so far, as fallout from the rising trade tensions between the Trump administration and Xi Jinping’s government in China. Now, the bad news: there is no certainty that this will not play itself out...

Protectionists in Plunderland

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?

U.S. Constitution Gives the Trade Power to Congress Alone

Republicans must join with Democrats to end Trump’s tariff authority. They should repeal these “emergency” laws that allow the president to unilaterally impose new taxes on Americans, in defiance of the intent of the framers of the Constitution.

Donald Trump: America’s Economic Commissar of Trade

Besides making Americans poorer than they otherwise need to be due to Trump’s tariff wars, the president has arrogantly used executive authority to arbitrarily impose higher import taxes (or their threat) at his own discretion and whim.

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.

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 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)

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...