GDP is not a useful measure of the material prosperity of a nation, and the way GDP is measured tends to hide the benefits of free trade.
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.
GDP is not a useful measure of the material prosperity of a nation, and the way GDP is measured tends to hide the benefits of free trade.
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.
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.
Bob explains some of the basic–but crucial–errors in the cost/benefit analyses that have been offered by economists to justify the political coronavirus lockdowns.
Richard Cobden today is an underappreciated hero of peace and freedom in trade, and he fought the power of the state at every turn.
