Protectionism and Free Trade

There is much gnashing of teeth and pulling of hair by just about every leader in the West, especially by an almost apoplectic President Trump, over a so-called “sinister threat” by the BRICS.

President Trump is proposing a $1.5 million levy on Chinese-built ships that enter US harbors. Since a majority of cargo ships have been produced by Chinese shipyards, the costs would be substantial. This action also would damage US exports, yet another unintended consequence of US policies.

President Trump is proposing a $1.5 million levy on Chinese-built ships that enter US harbors. Since a majority of cargo ships have been produced by Chinese shipyards, the costs would be substantial. This action also would damage US exports, yet another unintended consequence of US policies.

The White House is boasting about a new trade “deal” with the EU. But every supposed benefit that comes from the agreement applies only to a small subset of the country while leaving the American public, as a whole, worse off.

The White House is boasting about a new trade “deal” with the EU. But every supposed benefit that comes from the agreement applies only to a small subset of the country while leaving the American public, as a whole, worse off.

While it is tempting to see the economic success of Singapore and Hong Kong as similar, there really are stark differences between them. Hong Kong has developed through laissiez-faire and entrepreneurship while Singapore is much more state directed.

While it is tempting to see the economic success of Singapore and Hong Kong as similar, there really are stark differences between them. Hong Kong has developed through laissez-faire and entrepreneurship while Singapore is much more state directed.

In its attempt to claim that the concept of free trade is full of fallacies, The American Compass builds its anti-free trade case upon fallacies.

Innovations aren‘t very useful unless they serve consumers in the marketplace. Otherwise, we‘re pursuing innovation for its own sake, and that isn‘t progress.

Critics of free markets such as Oren Cass claim that Austrians and other supporters of the free economy are engaged in “market fundamentalism.” However, support for free markets is not an act of blind faith but is based upon understanding of how markets actually work.