A trade deficit isn't actual evidence that anything is wrong. But if it were, one of the best things to do would be to reduce government spending. Unfortunately, politicians disagree.
What's a telltale sign of economic illiteracy? I'm starting to believe the worst is the claim that markets lead to monopoly and the accumulation of wealth in a few hands.
The alleged rise of China to impending global tech dominance is greatly overstated. And US efforts to combat China will only make American companies less competitive.
It is true that socialism and interventionism have not yet succeeded in completely eliminating capitalism. If they had, we would rediscover the meaning of hunger on a massive scale.
Protectionism is often most damaging when it prevents entrepreneurs from accessing products and services that would have increased domestic capital and worker productivity. The result is poorer workers and less productive domestic industry.
EU membership is a sort of bait-and-switch for states that were sold on membership as an opportunity to join a free trade bloc and a chance to participate in a more cooperative Europe.
France faces a future of spiraling debt and declining economic growth. So Emmanuel Macron has now embraced economic nationalism as a way out. It's not likely to work.
