Trade

Fair Trade Is Still a Fraud

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

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.

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Trade Deficits Are Only Dangerous When Caused By Government

Governments have sold their bonds to fund vote-buying welfare state spending, or expanding bureaucracies with loyal supporters of power-hungry politicians, or on delusional dreams of military power, or colossal public works projects hailing the greatness of the dictatorial or democratically elected leader.

Globalization Faces Challenges

Those countries that embrace free trade with new technologies stand to reap great rewards. Those who do not, and revert to trade protectionism, could experience economic recession and monetary adversity accompanied by serious social and financial upheaval.

The Most Common Error in Economic Debates

Have you ever been in an argument about whether we should raise taxes and then someone tosses out a real whopper? “The top tax rate for decades after World War II was over 90% and look how the economy boomed!” Or perhaps you read a Paul Krugman column where he said...

The Only "Fair" Trade is Free Trade

In a recent defense of what he calls "fair trade," Barack Obama stated that one major purpose of trade agreements is to ensure that American products are made at home -- not bought from other countries. No such thing is true. The purpose of any trade agreement should...

Free Trade versus Protectionism

There's a growing anti-trade sentiment in our country. Much of the dialogue is grossly misinformed. Let's try to untangle it a bit with a few questions and observations. First, does the U.S. trade with Japan and England? Put another way, is it members of the U.S....

Anti-Free Trade Paradise

Presidential candidates Hillary Clinton and Barack Obama, pandering to anti-trade activists, suggest that should they become president, they will restrict trade agreements. Before you buy into their promised paradise, there are a few trade questions you might...

Subsidized “Free Trade” Is Not Free Trade

For a small-scale corn farmer driven out of business in Mexico by the North American Free Trade Agreement (NAFTA), the fancy economic theories about the benefits of "free trade" might not seem too believable. As the theory of comparative advantage goes, we're all...