Free Trade
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Trade Makes Possible the Productive Cooperation of Millions of People
Opponents of free trade wish to prevent you and your fellow human beings from rendering to, and receiving from, each other the greatest possible amount of mutual assistance at improving your lives.
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Tariffs May Wipe Out Gains from Tax Cut
With the new round of announced and threatened tariffs, we are approaching a policy that coupled with the corporate tax cut, can best be described as a revenue-neutral free trade tax.
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The Economics of Autarky
“It is not so much economic as political and philosophical: history must drive toward centralized power under great men and their intellectual advisors. Economic forces must be restricted to the bounds of the nation-state, because those bounds are the limits of the jurisdiction of the powers that be. Trade outside the borders, in this case,…
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Economic Basic: Trade Is Mutually Beneficial
This is perhaps the first lesson, and the most important, that students learn in economics.
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The Jets, the Sharks, and a Trade Agreement
The following tale about trade, protectionism, and trade agreements is more realistic than it seems on the surface.
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Trade Wars and Monetary Policy
Trump’s trade war is heating up. How can the Fed ensure it doesn’t cool down our economy too much?
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How to Kick an Economy When It’s Down
It is incredibly reckless to double taxes on imports from a particular country with the stroke of a pen. As robust and well-capitalized as the US is today, such actions foment more conflict, feed resentment, fuel nationalism, and take unnecessary risks with the economic well being of people the world over.
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Let’s Think Through This Trade Issue, Carefully
Should the political order reflect a vision of society as a free association of individuals engaging in free exchange for mutual and general benefit and creating a complex society thereby? Or should it come from one that sees membership of a collective entity as primary and allows trade among insiders but puts barriers in the…
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Rent-Seeking Is Alive and Well in Trump’s Tariffs
Rent-seeking is a problem that those on the left should have to answer for whenever they propose extensive new regulations. But as President Trump’s recent steel tariffs show, the problem knows no political ideology, and is an inevitable occurrence at the friction point between personal connections and power. The only way out, it would seem,…
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What Is Mercantilism?
I do not deny that countless other modern-day politicians are also mercantilists. But this fact doesn’t mean that Trump is less of a mercantilist than he really is. He is a poster-boy for modern-day mercantilism.
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The Real Reason for the Trade Deficit
The cure for the deficit problem is not to hamper free trade but to replace the dollar as the international reserve currency with a private currency and to reduce America’s budget deficit, which absorbs the financial inflows from abroad.
