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National Conflicts, Market Liberalism and Social Peace

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For three years, civil war has caused massive death and destruction in the former Yugoslavia. Almost every day, the television evening news has broadcast pictures of devastating artillery bombardments, ruined towns and villages, and multitudes of killed and wounded men, women and children. Tens of thousands of people have been turned into refugees forced to leave their homes and belongings under the terror of war and threatened mass extermination. At international conferences, the warring factions made up of Serbians, Croatians and Bosnian Moslems have drawn lines on maps tracing out what each side views as their "legitimate" claims for control of populations and territory. The claims to territories and populations are made on the basis of "history"; either a particular area was once part of a Serbian or Croatian state or national entity or it ...

U.S. Misfortunes “Made in America”

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Two crucial points need to be made about international trade: 1) The U.S. is far more interventionist than is commonly believed, and 2) our competitiveness problems are primarily made in America, not overseas. When former president Bush visited Australia a few years ago, Australian farmers staged a very visible protest. They did us Americans a great public service. They pointed out that America's agricultural export subsidies are effectively a form of "dumping" — the very practice our politicians like to rail about when Americans are the supposed "victims." Australian farmers have lost markets because subsidized American grain is stealing away their customers. The notion that America has wide open borders and that only nasty foreigners restrict imports is political poppycock — pure disinformation that self-serving special interests and their gullible allies in Washington are ...

Free Trade, Managed Trade and the State, Part 1

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Part 1 | Part 2 | Part 3 | Part 4 | Part 5 "The principle of free trade is non-interference," wrote the English classical economist Nassau Senior in 1828. "It is to suffer every man to employ his industry in the manner which he thinks most advantageous, without a pretense on the part of the legislator to control or direct his operations." The advocates of free trade in the 19th century argued that the direction of production and the allocation of resources was best left to the private decisions of the individual members of society rather than to be entrusted to the commands of the state. They explained that each man knows his own circumstances better and can more fully appreciate profitable opportunities than any government bureaucrat assigned the task of performing ...

China: From Brutal Oppressor to Terrorist Victim

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Since 9/11, President Bush has endlessly reminded the world that he is leading a “freedom-loving coalition” to vanquish terrorists anywhere and everywhere. However, the more closely one examines the details of the Bush coalition, the more difficult it becomes to detect any love of freedom. The Bush administration’s anti-terrorism partnership with China exemplifies its hypocrisy and contempt for human rights. ...

China: From Brutal Oppressor to Terrorist Victim

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Since 9/11, President Bush has endlessly reminded the world that he is leading a “freedom-loving coalition” to vanquish terrorists anywhere and everywhere. However, the more closely one examines the details of the Bush coalition, the more difficult it becomes to detect any love of freedom. The Bush administration’s anti-terrorism partnership with China exemplifies its hypocrisy and contempt for human rights. ...