Trade

Trump’s Proposal To Replace The Federal Income Tax with Tariffs

If Trump’s goal is simply to eliminate the federal income tax, then he should advocate for doing that and only that.

The So-Called “Trade Deficit”

The So-Called “Trade Deficit”

The conventional tale of trade deficits fails so utterly to square with reality because tellers of this conventional tale never seriously bother to attempt to understand why foreigners are willing, decade after decade, to send to America more goods and services than they receive in return from America.

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.

President Donald Trump is a Classic Mercantilist

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

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

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 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.

How Much Damage Will Come from this Trade War?

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

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?

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