What should be most clear is that the Trans-Pacific Partnership is not a free trade agreement. Parts of it may, no doubt, lower some trade barriers, thus making easier the production, sale and purchase of a wider variety of imports and exports. However, TPP, like all other trade agreements in the post-World War II era is a managed trade agreement.
Max Ehrendfreund thinks the world is producing too much of things like oil and cotton. But how does he know what "too much" is? Without the price system, it's impossible to know.
Mises Daily Friday by Mark Thornton:
Communities like Baltimore and Ferguson have been crippled by government regulations and the American nanny state. Now is the time to allow local residents to break free of government wage controls, government schooling, and government prohibitions.
Lew Rockwell and Jeff Deist invite you to join them at the Mises Circle on Thursday, May 7 with talks by a compelling slate of speakers: James Grant, Judge Andrew P. Napolitano, David Stockman, and Joseph Salerno. Listen LIVE here at 1:30 PM EST.
Mises Daily Thursday by Ryan McMaken:
With huge debts and an immensely inflated supply of dollars, the US is vulnerable to its own "Suez moment" in which foreign regimes can nullify American foreign policy without firing a shot.
Dr. Thornton appeared this week on Press TV to discuss the recent jump in the US trade deficit.
Krugman and Stiglitz think that massive spending increases constitute "austerity."
The Keynesians who run Baltimore thought a bunch of high-priced, taxpayer subsidized stadiums and shopping centers would fix the local economy. It didn't.
John P. Cochran, Senior Fellow at the Mises Institute, expert on the Fed and monetary policy, and co-author (with Fred Glahe) of The Hayek-Keynes Debate: Lessons for Current Business Cycle Research, has passed away.
Mises Daily Tuesday by Thibault Schrepel:
Antitrust law is still heavily reliant on notions of perfect competition and other static models of how markets should work. In truth, the dynamism of the marketplace does all that is necessary to prevent the rise of monopolies.
