In Economics in One Lesson, Henry Hazlitt contends good economics requires us to look beyond the immediate benefits of a policy. While the beneficiaries of a policy are easy to see, those bearing the costs are often unseen. Good economic policy decisions require us to look at the seen and the unseen. Both New York…
In the wake of last week’s electoral victories by Democrats, the two most prominent Republicans once again showed they are living in a fantasy world. Trump claimed that, along with the government shutdown, Republicans lost because he wasn’t on the ballot. J. D. Vance said that Republicans need to “do better at turning out voters…
Since January, Americans have been subjected to a constant stream of erratic policies from the Trump Administration. Most commentators focus on the latest outrage and point out the contradictions, evasions, or misrepresentations in those policies. Rather than try to understand the rationale, or lack thereof, behind these policies, we should ask what erratic policies accomplish….
In announcing new tariffs on China, Evader-in-Chief Donald Trump again showed that he believes reality will conform to his wishes. Tariffs won’t make America great. They never have, and they never will. Contrary to Trump’s claims, trade does not occur between nations. America does not engage in trade with China or any other nation. Individual…
Last Friday, the Commander in Chief of the United States sent forth several tweets in response to China’s announcement that it would impose $75 billion in tariffs on American products. In one of those tweets, the Commander stated: Our great American companies are hereby ordered to immediately start looking for an alternative to China, including…
President Trump, among others, has made political hay of America’s trade deficit with China. To correct this alleged problem, the President has imposed a number of tariffs on goods imported from China. But trade does not occur between nations; trade occurs between individuals If a Texan buys groceries at Kroger, the exchange is not between…
Anytime the government intervenes in economic affairs, it is picking winners and losers. Consider the tariffs recently imposed by the Trump Administration as an example. Those in certain industries, such as steel and aluminum, have been picked to win. The tariffs give domestic companies a competitive advantage over foreign companies. That advantage was achieved, not…
This was originally posted on PoodleRose on August 21, 2013. Comments have not been migrated. Representatives from twelve countries will meet later this week to negotiate a trade agreement as a part of the Trans-Pacific Partnership. Many of the countries involved want increased access to markets in other participating nations. For example, Americans want to…