Supporters of US microchip policy against China claim the policy is "strategic," but in reality, it is old-fashioned protectionism with all the usual economic damage.
While both the Left and Right celebrate the government's new drive to subsidize American microchip manufacturing, we should remember that political "investments" always result in crony capitalist disasters.
Populists on the right (and left) are claiming that American prosperity came about because of high protective tariffs. But political rhetoric can't replace sound economics.
Most people think the Industrial Revolution catapulted humanity into modern comfort, but this narrative leaves out the agricultural revolution that had to come first.
Since the 1940s, failed statist schemes have dragged Argentina into poverty. Javier Milei, who is gaining popularity there, hopes to change his nation's sad history.
The Davos crowd sold globalization as a way to bring nations together. Unfortunately, by insisting on political conformity, the globalists have set the world on fire.
The African Continent Free Trade Area has the potential to serve Africans and bring about better living standards. However, it is threatened by government attempts to "manage" trade.
The world is in chaos, so politicians MUST do something. Hence, they demand autarky, which is like attempting to put out a fire by pouring gasoline on it.
