Guest Post by Randal A. Burd, Jr. Those who enjoy even a cursory understanding of the economic policies of the last two decades should be quite familiar with the term “free trade.” Free trade is simply a government’s policy to intentionally refrain from restricting imports or exports via the use of subsidies and tariffs. While...
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This is the conclusion of the previous post where we give examples of notable economists who oppose international free trade and are in favor of some form of protectionism. Stephen Roach, lecturer at Yale University’s School of Management, chief economist of Morgan Stanley says, “America’s recovery without job creation could well be here to...
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Most economists think sort of like Uwe E. Reinhardt, an economics professor at Princeton, who posted in the New York Times, “Whether a fellow American gains from a trade or someone in Shanghai does not make any difference to most economists, nor does it matter to them where the losers from global competition live,...
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The United States economy slowly chugs along like a train coasting without any power. It is only a matter of time until we run out of steam and enter a state like Greece or Argentina. Sometimes when discussing this issue, the sound of “education” will sound out, but this will not save us. Foreign...
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Sometimes we quietly hope we’re wrong. “Maybe there is an unknown, unforeseen way for our economy to prosper in spite of international free trade,” we optimistically wonder. Then we hear about the renewal of the President’s powers to fast track free trade agreements through Congress. This power is called Trade Promotion Authority (TPA) and President Obama...
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Led by popstars like the charismatic Paul Krugman and powerful Ben Bernanke, most people still think ill of trying to take strong measures to save what little is left of our industries. The common claim is that this is protectionism, and protectionism hurts everyone in the end. Folks, it is time to wake up...
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The Immigration Amnesty Bill passed in the Senate this week with a vote of 68-32. The House of Representatives is the only thing left standing between this bill and further economic hardships for America. The number of Americans employed (the participation rate) is still as low as it was in the late 1970s, but wages are nowhere...
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For the first time in a long time, a candidate was willing to point to the tip of the free trade iceberg during a campaign. Unfortunately, that candidate, Mitt Romney, lost the Presidential election. Not only that, but we are far beyond the iceberg to the point of an already sinking Titanic. For the...
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