Tag: Trade

Negative Balance of Trade? So What? »

The tendency of the USA to have a negative balance of trade (more accurately known as a negative balance on current account) played a prominent role in the recent U.S. presidential campaign. Donald Trump criticized this tendency repeatedly and promised that if elected he would take various actions to reduce or eliminate it. Like...
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The World after 9/11 »

How has the world changed fifteen years after 9/11? How have these changes affected the western hemisphere and emerging countries in particular? It’s been said that the attacks marked the privatization of the “enemy.” The enemy ceased to be a state and became a group of individuals with a large degree of autonomy from...
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Lee Kuan Yew and Singapore’s Transformation from Poor to Prosperous »

Lee Kuan Yew, Singapore’s legendary statesman, who died last month at the age of 91, posed a challenge to those of us who believe in political and economic freedom (and all other freedoms). His combination of authoritarianism and economic freedom, of social engineering and self-reliance, worked. The result was a society that is more...
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Why Americans Should Celebrate President John Tyler »

[The following is from “Freedom’s Presidents,” a symposium for Presidents’ Day 2015, published by The Freeman. Reprinted with permission.] John Tyler was generally in favor of limiting government—both domestically and internationally—much to the chagrin of his own Whig Party. It advocated a revival of the national bank and high tariffs, both of which would...
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I, Nutella »

“The lesson I have to teach is this: Leave all creative energies uninhibited. Merely organize society to act in harmony with this lesson. Let society’s legal apparatus remove all obstacles the best it can. Permit these creative know-hows freely to flow. Have faith that free men and women will respond to the Invisible Hand....
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I Can’t Believe There’s No Butter! Bad Trade Policy Burns Christmas Bakers »

I love to cook. From my great grandmother’s recipe for fried chicken (fried in lard, of course) to my mom’s recipe for Kentucky burgoo (think stew), there are a few kitchen staples this cook can’t do without. The star of many southern recipes is butter. Perhaps famous southern cook Paula Deen put it best:...
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Normalizing Relations with Cuba: Good Policy »

President Obama announced that the United States will restore full diplomatic relations with Cuba, which is a good move for both countries. The economic impact of the policy will be limited, however, because the economic embargo the United States has imposed on Cuba can be removed only by Congress. This presents the obvious political...
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The Biggest Threat to North Korea Might Be Dessert »

This past summer, some 200 South Korean activists and North Korean defectors launched 50 balloons into North Korea. The purpose? To deliver 10,000 Choco Pies—a cake and marshmallow combination coated in chocolate (think Moon Pie)—to the citizens of North Korea. The pies saw their introduction in North Korea in 2004. The treats were given...
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Always Look on the Bright Side of Life »

“The twenty-first century will be a magnificent time to be alive. Dare be an optimist.” —Matt Ridley On November 12, 2014, the world watched with excitement as another historic human achievement unfolded: After a decade-long journey that covered 4 billion miles in space, the first human spacecraft landed on a comet. This remarkable event...
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Saudi Arabia Pressures Russia »

One remarkable aspect in the recent fall in global oil prices is that Saudi Arabia has not cut production to prop them up. Much of the speculation about why the Saudis have sat by passively and allowed the oil price decline has been that they are trying to undermine higher-cost producers in the US...
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