The Trump administration has pursued a high tariff policy, reversing the movement to lower trade barriers around the world. The justification for this policy is the presence of trade deficits with other nations. However, what if US trade deficits don't matter?
While no one is accusing egg producers of colluding or price-fixing, from an economic standpoint, it certainly could be happening either by design or incidentally.
While no one is accusing egg producers of colluding or price-fixing, from an economic standpoint, it certainly could be happening either by design or incidentally.
There are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.
Bob responds to Oren Cass’s appearance on Tucker Carlson, offering a charitable yet firm economic critique of the anti–free trade ideas gaining ground on the political right.
While Trump has not yet turned to price controls to address America‘s absurdly high drug prices, Monday‘s executive order suggests that he soon may. Price controls would only worsen the problem with the drug market. Here are three things he can do instead.
A free market economy does not generate jobs or money. Instead, it creates wealth through exchange and production. Government intervention, contrary to what mainstream economists believe, does not enhance wealth, but instead destroys it.
A free market economy does not generate jobs or money. Instead, it creates wealth through exchange and production. Government intervention, contrary to what mainstream economists believe, does not enhance wealth, but instead destroys it.
Although politicians, pundits, and the media claim that a trade deficit is harmful to a country, the reality is much different. In a free economy, individuals interact with each other in mutually-beneficial exchanges. As Murray Rothbard noted, free exchanges do not produce winners and losers.
Historian Chris Calton joins Ryan McMaken to discuss both the upsides and the downsides of Trump's first 100 days.
