Protectionism Is Central Planning

At the Asia-Pacific Economic Cooperation (APEC) forum last month in China, Barack Obama championed the proposed Trans-Pacific Partnership (TPP) trade agreement, which, if enacted, would be the world’s largest trade agreement, accounting for more than 40 percent of world GDP. “What we are seeing,” Obama told those in attendance at the APEC summit’s opening session, “is momentum building ... [click for more]

Uncle Sam Is a Sugar Daddy

When the government of a foreign country tells companies in a particular industry how much of its product it can sell; guarantees minimum prices; provides nonrecourse loans; restricts imports of foreign product; buys up excess product; and seeks to stabilize, support, and protect the industry, it is denounced as socialism or central planning. But when the same thing occurs in ... [click for more]