Topic: Free Trade

The Deficiency of Popular Accounts of the So-Called “Trade Deficit”

– July 5, 2023

“The classification of outputs bought and sold on international markets according to whether these outputs are tangible is no more economically justified than would be the classification of these outputs according to their colors.” ~ Donald J. Boudreaux


On the Mercantilist and Monarchial Origins of the Concept of the ‘Balance of Trade’

– June 26, 2023

“Unlike a profit-seeking company, an economy doesn’t exist to maximize the amount of money it brings in, net of its costs, on sales of its outputs.” ~Donald J. Boudreaux


How Trump and Biden Are Blowing Up the Free-Trade System America Worked So Hard to Build

– June 16, 2023

“Globalization has helped generate previously unknown wealth – and health – in rich and poor nations alike. As evidenced by Trump and Biden, a President may use his unilateral tariff authority for ill.” ~ David B. McGarry


Economic Growth Theories Fall into the Dustbin of History (And That’s Okay)

– June 6, 2023

“So, while prominent economists were spinning their unsatisfying theories and lamenting the vicious cycle of poverty, the world got better—on its own.” ~ Jane Shaw Stroup


Modern Mercantilism: A Case for Free Trade

– May 16, 2023

“Global free trade helps both consumers, via lower quality-adjusted prices, and taxpayers. Walking into a Walmart to buy goods I want for dollars I earn at work does not leave me, or the nation, worse off, even if those goods originated in another country. ” ~ Stefan Bartl


Adam Smith v. Wesley Jones

– May 7, 2023

“It is long past time Americans saw through the multiple misrepresentations that have defended the Jones Act’s nothing-for-something restrictions for over a century, including twisting Adam Smith’s logic into a false endorsement of its enormously costly restrictions.” ~ Gary M. Galles


The Global Market Miracle of the 99-cent Pineapple

– April 27, 2023

“When past centuries’ most-iconic luxuries become commonplace and affordable, we always have specialization and market innovations to thank.” ~ Laura Williams


Protectionism Benefits Some at the Expense of Others

– April 20, 2023

“We shouldn’t want our lawmakers to play favorites between domestic interests, and people should be more skeptical when policymakers dip into protectionist rhetoric.” ~ James M. Hohman


Is It An Economic Crime To Import a Soccer Jersey?

– April 14, 2023

“One of the hardiest and most enduring fallacies in economics is the mercantilist fallacy: buying from foreigners is bad for us because we should ‘keep the money here;’ selling to foreigners is good for us because we can pile up more money.” ~ Art Carden


An Open Letter to British Prime Minister Rishi Sunak

– April 11, 2023

“We can hope that, should Parliament today agree to a unilateral lowering of Britain’s trade barriers, other governments would today, as other governments did in the mid-19th century, respond by unilaterally lowering theirs.” ~ Donald J. Boudreaux


Do Not Tarry In Eliminating Tariffs and Other Protectionist Measures

– March 25, 2023

“Like Adam Smith, I’d prefer that trade be liberalized gradually as opposed to not at all. But perhaps unlike him, if I were put in front of a button to eliminate immediately all species of economic protectionism, I’d press it with gusto.” ~ Donald J. Boudreaux


The Amazing Cargo Ship

– March 14, 2023

“Like the trade that’s carried out using cargo ships, all trade – from the simplest to the most complex – works wonders. Trade allows each of us to turn our unique talents into the fruits of the talents of everyone with whom we trade.” ~ Donald J. Boudreaux