Protectionism and Free Trade

Octavio Paz, defined government as "the philanthropic ogre," a creature that seemingly wishes to help the unfortunate, but at the same time devours more and more of the nation’s prosperity.

Historically, US immigration policy limited rejection and deportation to those deemed to be either criminals or incapable of supporting themselves economically. The modern quota system takes a far more arbitrary approach.

When economists idolize "efficiency" while ignoring property rights, they can justify pretty much anything.

American tariffs are just taxes on Americans, and its the American consumer who will suffer most.

Why attack the most vulnerable in our society, who benefit enormously from inexpensive imported retail goods?

The Constitutional ban on export duties has always been a hollow victory. Export tariffs are analytically equivalent to import tariffs.

Business owners understand that the key to prosperity is to reduce costs and deliver more goods to the customer. Wage workers, however, often want higher prices in order to "protect" their jobs.

Trump’s trade war is not about about being patriotic or protecting American businesses. It is about politics and bad economics.

Recorded at Mises University 2018.

Recorded at Mises University 2018.