One of the signature features of President Donald Trump’s campaign was his hostility to free trade. Then-candidate Trump repeatedly denigrated various multilateral trade pacts as bad deals for the United States. Pulling out of the Trans-Pacific Partnership, appointing opponents of free trade—such as Steve Bannon and Peter Navarro—into key positions, and promises of tariffs that are likely to […]
Joe works in a Pennsylvania steel mill. Many of Joe’s fellow Americans start buying more imported steel and, hence, less American-made steel. Because of this change in trade patterns, Joe – a good, hard-working, honest, play-by-the-rules, middle-aged family man who toiled in the steel mill all of his adult life – loses his job. Joe […]
Capitalism—stronger than any border wall or immigration ban—remains a resilient and deeply American system.
The idea is wrongheaded on both counts: they would harm citizens of the US as well as those of Latin America.
“The market is not a place, a thing, a collective entity. The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.” – Ludwig von Mises
The problem with communitarianism is that many communitarians make for bad community members. Many of them are “society first, individual second!” to the point of being anti-social. They aren’t the kind of people you’d want to live near. Look, I get why people like community. I live in a fairly tight-knit community myself. We have little […]
One of the gravest economic mistakes that humans can make is to forget that ours is unavoidably a world of scarcity.
Trump-style economic nationalism, like the more full-throated fascism with which it shares much, aims to bring back the mythical glory days of the nation. But if we really want to make America great (again), we should learn the lesson of history, as well as economic theory, that prosperity comes from the free movement of goods, services, and people regardless of arbitrary political lines.
Trump’s base will be hurt the most by his wealth-destroying and punitive trade policy.
Airbnb is now facing greater opposition in New York thanks to a recent bill signed by Governor Andrew Cuomo which bans advertising of short-term rentals.
Donald Trump is a protectionist like many other politicians, save that he unfurls his vast economic ignorance more fully and more proudly than do more seasoned politicians. I’ve more questions for Trump and his fans, and, indeed, for protectionists of all stripes, colors, and temperaments. Such as…. – If you buy your tomatoes and okra […]
Frederic Bastiat lived a prolific life and left an even grander legacy.
It’s not BlackBerry’s fault the Apple iPhone has become the go-to smartphone for consumers worldwide.
When it comes to trade, the best US policy, or that of any country, is the elimination of all barriers to imports. This can be done unilaterally. Abundance should always be preferred to scarcity.
Protectionism is the belief that domestic producers have a higher claim to your money than you do.
This piece was originally published at the L.A. Times. Foreign trade took a beating at both major party conventions, with speakers blaming free-trade agreements for all but wiping out U.S. manufacturing and eliminating millions of middle-class jobs. Both Donald Trump and Hillary Clinton have promised to renegotiate or abandon trade agreements with key U.S. trading […]