Tag: free trade
Tariffs Remove Options and Necessarily Reduce Economic Well-Being

You simply can’t make people better off by removing options from them.

Nationalism, the Ideological Delusion at the Heart of Protectionism

The doctrine of nationalism, a dangerous brew in which Americans have long indulged.

Government Obstructions on Importation and Immigration Are Parallel Forms of Plunder

Two cases of government obstructions at the border.

The Delusion of a Win-Win Trade War

The only way to win a trade war is not to fight one.

Two-way Trade in the “Same” Commodity

Government interference neglects the nuance of trade.

Trade Wars Put Prosperity in the Cross Hairs

Whatever his latest rhetoric, Trump has helped show that—just as economists feared—the idiocy of trade protectionism is contagious.

The Balance of International Payments Is Economic Nonsense

The nation-based “balance of international payments” accounting system is misleading and nonsensical.

Trump’s Trade War Has Ugly Consequences

The Democrats could not have asked for a better ally than Donald Trump when it comes to trade protectionism.

The Boon of Growing U.S. Imports from Mexico

Since NAFTA went into effect in 1994, U.S. imports of goods from Mexico have grown from about $4 billion per year to about $28 billion (annual rate as of March 2017). Americans have also purchased a lot more services, not counted in this measure, from Mexicans during the past two decades (e.g., tourist services...
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How the UK Can Benefit from a Free Trade Future After Brexit—Even Outside the Single Market

[This article was co-authored with David Paton and David Blake, and first appeared on TheConversation.com.] The benefits of free trade have been familiar to economists since Adam Smith. Trade encourages specialisation and leads to lower costs, higher productivity and higher living standards. Yet for some economists, things are different when it comes to the...
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