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
and Gatt. They embrace different theories of how the U.S. should conduct trade policy. The “bilateralistists” think that the U.S. should negotiate trade with one “them” (Asia and Europe), which would allow “us” to compete and win in the global competition for resources and markets. The point of Nafta was to allow “us” (which
permanently, but we also need to understand how Big Oil manipulated U.S. foreign policy in pursuit of profit. The war in the Gulf was a war against the competition with the partial purpose of knocking Baghdad out the world oil market.
It makes sense from his point of view. Like most big business, GM does not welcome competition from abroad, however much it’s spurred product improvements over the trade “has inflicted more pain on this nation than any other political or economic policy,” says Stelzer, pushing the federal government itself way down the list. It is
The critical factor controlling an insurer’s costs, hence the price he asks for a policy, is the probability of disaster. He can sell life insurance of $50,000 to does this often, it will lose business to other insurers. This pull and tug of the competitive insurance marketplace pushes risk and premiums to a proper level, so both plans are as voluntary as informal risk pools. Nobody makes anyone take out a policy. For the same reason, the nosy questions asked by an insurance company do not
bosh, I suspect, mostly because they hope to make headway against Great Society policies by sounding concerned for the less fortunate. As Dorothy Parker said, any jobs, contracts, admissions, and scholarships they could not get under merit-based competition. I sometimes ask the students whose enrollment and jobs are do to such
there are out there, you can always make more, and, by making them well, beat the competition. Despite a certain amount of—angry—”self-help” rhetoric, many blacks seem $10,000?” I was so nonplused it took me a while to realize that she equated this policy with the Korean government giving emigrants money, no doubt to give them a
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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.
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