Topic: Free Trade

Economic Reality Is Far Too Complex to Be Improved By Trade Restrictions

– January 4, 2023

“Unlike market participants guided by prices, politicians and administrators literally have no reliable information to guide them. They will therefore be guided exclusively by their own biases and hunches.” ~ Donald J. Boudreaux


Where Do The Savings Go?

– December 28, 2022

“As Henry Hazlitt reminds us, the art of economics consists not merely in looking at the effects on the most visible groups, but in tracing the effects on everyone.” ~ Art Carden


Are Free Traders Guilty of Naïve Globalism?

– December 12, 2022

“Free trade does indeed enrich the world. But it also, and chiefly, enriches the people of each country that practices it, regardless of the policies pursued elsewhere.” ~ Donald J. Boudreaux


Protectionism in Biden’s Inflation Reduction Act Harms Consumers and Domestic Industries

– December 11, 2022

“The only jobs protected are those in the politically favored companies whose inefficiencies are protected from competition at the expense of other domestic jobs lost and higher prices on consumers.” ~ Brian Balfour


The Libido for the Superficial

– December 8, 2022

“Once the reality of a libido for the superficial is admitted, many phenomena are better understood. For example, it’s easy to understand, and excuse, intellectually unengaged people falling for protectionist fables.” ~ Donald J. Boudreaux


The Wages of Washington’s Economic War on China Are Not Cheap

– November 23, 2022

“To make up lost revenue, the US industry may become more dependent on government largesse and ultimately less vibrant and dominating. Ultimately, making policy more like China risks turning US industry into something more like China’s.” ~ Doug Bandow


Industrial Policy Returns, Prior Pratfalls Notwithstanding

– November 22, 2022

“Letting politicians pick winners is the surest recipe for shafting consumers and every unsubsidized business. Unfortunately, there will always be enough pundits who failed Econ 101 to whoop up every boneheaded intervention.” ~ James Bovard


On Some of the More Difficult Questions About Trade Policy, Continued.

– October 19, 2022

“Reality is messy. It seldom presents to us ‘solutions.’ Much more often we are confronted only with trade-offs. Principled and informed defenders of a policy of free trade accept this fact. I wish that more defenders of protectionism did likewise.” ~ Donald J. Boudreaux


On Some of the More Difficult Questions About Trade Policy

– October 10, 2022

“Empowering the home government today to use trade policy to protect against unfortunate commercial entanglements in the future raises the prospect of failure by the home government.” ~ Donald J. Boudreaux


Mercantilist Follies, Then and Now

– September 21, 2022

“Mercantilism encouraged governments to create and prop up inefficient domestic sectors, and incentivized merchants to curry favor with governments to extract privileges from them.” ~ Samuel Gregg


Some Pictures Are Indeed Worth a Thousand Words

– September 19, 2022

“No data or sets of graphs, regardless of how carefully constructed and intelligently interpreted, can convey a complete picture of an economy. Yet, such data can convey important information, which is often the opposite of popular narratives about the economy, generally, and about trade in particular.” ~ Donald J. Boudreaux


Helping Y’all Understand Protectionism

– July 22, 2022

“Given that protectionism violates the central purpose of any government, which is to benefit all its citizens, it replaces the justice of voluntary arrangements with the injustice imposed by involuntary arrangements.” ~ Gary M. Galles