Should China Pay Reparations?

– May 7, 2020

For the Chinese to pay reparation fees in ways that don’t involve any current increase in American imports, they would have to liquidate a great deal of their investments in America. Any such liquidation would reduce asset values here at home.


Some Questions that Must Be Answered Before Adopting a Policy of Medical-Supply Self-Sufficiency

– April 27, 2020

It’s very easy to declare that ‘we should be self-sufficient in medical supplies,’ but it’s not at all easy to define just what this declaration means or to grasp all that it entails.


Socialists and their Silly Stories

– April 21, 2020

My dear friend Roger Meiners, Professor of Economics at the University of Texas-Arlington, tells of a former colleague of his whose interpretation of reality should teach us all an important lesson. Roger’s colleague, a devout Marxist, once announced t …


Why Does the Once-Richest Economy in the World Have a PPE Shortage? (Video)

– April 16, 2020

Protectionism with the twist of #COVIDー19 is a very toxic combination, especially in the medical supply trade. When there is a shortage of medical supplies, going out of our way to make them more expensive will hurt people.


The Economy Is Not a Series of Supply Chains

– April 13, 2020

The quest to use protectionism to make us more secure in our health and wealth would sever untold numbers of productive ties that we now have with the global web of economic interconnectedness. The end result would be an America far less secure in its wealth and health.


Keep America Open

– April 6, 2020

Economies, in short, grow the more open and free they are – that is, the further they are from being autarkic. Economies do not grow as a consequence of politicians and mandarins using tariffs, subsidies, and other special privileges to shield domestic producers from foreign competition.


Free Trade and Globalization are Good for Your Health

– March 23, 2020

“Absurd” is way too weak a word to describe the supposition that we Americans possess 100 percent, or even anything close to a majority, of the world’s creative potential.


Adam Smith’s Alleged “Exceptions” to a Policy of Unilateral Free Trade

– March 9, 2020

If you wish to win greater support for a policy proposal, it’s useful to draw your audience’s attention to famous and respected historical figures who, were they still alive, would almost surely join you in supporting that position. For example, if you …


Free Trade in Ten Easy Points

– February 24, 2020

Several superb books, monographs, and papers are available to introduce non-economists to the positive economics of trade and to the normative case for a policy of unilateral free trade. And it’s a good thing. Today’s increasing eagerness of people acr …


Unlike Oren Cass, F.A. Hayek Knew the Economics of Trade

– February 20, 2020

Quoting F.A. Hayek’s 1960 claim that free markets will bring about a “balance … between exports and imports,” Oren Cass argues that the string of annual U.S. trade deficits over the past 44 years proves that Hayek was wrong – that history has “broken” …


The Attempt to Suffocate Huawei Is Foolish and Destined to Fail

– February 18, 2020

Readers of this column are familiar with this historical truth, but it’s worth repeating in light of the ongoing conservative crack-up over Chinese communications giant Huawei. For clarity on the matter, it should be stated right away that if you’re se …


Free Trade Straw Men

– February 10, 2020

Few groups of policy pundits boast as many straw men slayers as does that of protectionists. Indeed, protectionists likely hold several world records for the number and variety of straw men whom they mow down and the frequency with which they perform this mowing.