Free Trade & Trade Policy

Tariff Walls and Trade Wars Equal Government Planning

Trade wars are dangerous and harmful policies for governments to pursue. They hurt consumers due to higher prices and fewer alternatives; they reduce competitive opportunities for producers by restricting markets; and they narrow the benefits that come from a market-based system of division of labor in which each participant tends to devote his or her efforts to supplying the ... [click for more]

Trump’s Protectionist Follies Threaten a Trade War

President Donald Trump has announced the planned imposition of a new, 25 percent tariff on imported steel and a 10 percent tariff on foreign made aluminum entering the United States. This has brought about threats of trade retaliation by a number of America’s trading partners. The menacing clouds of a possible trade war are showing themselves on the global ... [click for more]

Trump’s Economic Warfare Targets Innocent Bystanders

An often forgotten truth is that it is not just military warfare that can cause injury to innocent bystanders, the same inescapably happens in economic warfare initiated by governments, as well. But in the latter case the human “collateral damage” is a targeted victim. On March 29, 2017, “The Wall Street Journal” ran a story highlighting the Trump Administration’s likely ... [click for more]

Free Trade versus Political Fallacies

The current political campaign for the U.S. presidency has brought out the worst in both the personalities and the policy positions among many of those running for that high political office, and this has been especially the case with international trade and the global economy. Listening to the presumptive Republican and Democratic candidates for the White House, the average voter ... [click for more]

Free Trade Is Fair Trade

As relayed by Harvard economics professor and chairman of George W. Bush’s Council of Economic Advisers, N. Gregory Mankiw, “The Princeton economist Alan Blinder once proposed Murphy’s Law of economic policy: ‘Economists have the least influence on policy where they know the most and are most agreed; they have the most influence on policy where they know the least ... [click for more]
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