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.
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.
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.
Although President Trump has claimed that tariffs will ultimately raise our standard of living, they really are taxes on consumers. Furthermore, tariffs also deny consumers the choices they want to make.
Although President Trump has claimed that tariffs will ultimately raise our standard of living, they really are taxes on consumers. Furthermore, tariffs also deny consumers the choices they want to make.
The British complained of unfair competition from goods supplied by the American colonists. So the state intervened to manage trade and make it “fair.” But the American revolutionaries saw protectionism for the scam it was, and still is.
The British complained of unfair competition from goods supplied by the American colonists. So the state intervened to manage trade and make it “fair.” But the American revolutionaries saw protectionism for the scam it was, and still is.
Economic sanctions, as a general principle, have a history of failure in the 20th and 21st centuries, which penalize everyday citizens in the sanctioned country.
