to fabricate “facts” and use them to demonstrate how Japan’s international trade policies create economic disruption that warrants retaliation. Although accomplished exports. Tariffs are a popular method used to protect home markets from foreign competition. However, contrary to the ‘’’Jap’ bashers” claims, Japan’s tariffs are such a misleading and destructive activity. Hanke, Steve H. “Is Japanese Trade Policy Really “Unfair”?” The Free Market 2, no. 5 (October 1984): 2–3.
countries who refused to reduce their own trade barriers. He was wrong: that policy only makes domestic consumers suffer for the mistakes of foreign governments. John Stuart Mill wanted to protect infant industries from foreign competition. He too was wrong. The government cannot know if the industry should stay
The real issue is the fundamental problem of public property. Economists speak of competition as if it always and everywhere leads to better service and performance. As regards government, Bush has been worse than any president since LBJ. On trade policy, he has been worse than anyone since Hoover. Kerry’s position is that Bush has
of trade and its restriction—are all too typical of our present trade policy. Although we think of ourselves as a free-trading nation, it takes more than price of those Japanese cars that do get through, and of U.S. cars as well, since competitive pressures will be taken off General Motors and Ford. Free trade at all for special interests, and enact protection against “unfair” out-of-state competition. Knowing how similar situations come about, we could bet that someone in
plain English to average citizens, so that they could understand which government policies help or harm them, and, as a consequence, so that they could vote in such a busts, recessions, unemployment, starvation, and unaffordable healthcare to exist. Competition and the threat of competition serve as iron-clad shackles on companies.
to government-sponsored cartels, all aimed at keeping steel prices far above competitive levels. Few industries have received such benefits, all of which have firms failed to modernize their plants, depending instead on a new government policy, the “trigger price mechanism.” This legislative device “triggers” steel that have been most protected will be least able to withstand new waves of competition. Steel, as experience has demonstrated, is no exception. William L.
has government been wiser in the use of resources than the market system driven by competitive pressure to keep costs down? In fact, government plays a purely are working with the courts to slice up the company, supposedly to create competition but actually to reward Microsoft’s competitors. Is there anyone who truly the great toilet tank fiasco. In a little-noticed law passed in 1992— the Energy Policy and Conservation Act Congress mandated that all future toilets installed in
across the political spectrum are fretting about the need for a national energy policy, wringing their hands about the apparent un-American-ness of our dependence on separate the good ideas from the bad. Scholars like F.A. Hayek have referred to “competition as a discovery procedure,” and in an article that appeared in the
to make this and install that, but it cannot solve the problem of how to resolve competitive uses of resources. That is only possible in an exchange economy. This of society at the least possible cost. It does this through exchange, cooperation, competition, entrepreneurship, and all the institutions that make possible Our age is dominated by the state and its errors in both domestic and foreign policy. The state has given us recession and war, while liberty has given us
and money, financial self-interest and the profit motive, the freedoms of economic competition and economic inequality, the price system, economic progress, and a succinctly in a series of lectures which were published posthumously as Economic Policy: Thoughts for Today and Tomorrow. He notes that “this is the fundamental
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.