Who decides what’s “fair?”

We're from the government, we know everything, and we're here to make international trade "fair." From Cafe Hayek: First, there’s no reason to suppose that even saintly government officials possess, or could possibly obtain, the knowledge necessary to obstruct in welfare-enhancing ways their fellow-citizens’ trade with foreigners. Second, there’s no reason to suppose that even… Continue reading Who decides what’s “fair?”

Presiding over spilled milk

The United States has applied its central planning acumen to the dairy industry for many decades. It has worked as you might expect. Not only does America have milk - it’s got a surplus of over 8 million metric tons, forcing dairy farms to shutter and farmers to simply start dumping millions of gallons of… Continue reading Presiding over spilled milk

This is new

But it still shows President Trump's confusion on trade and tariffs. From whitehouse.gov:Press Conference by President Trump After G7 SummitEmphasis mine. Q Mr. President, you said that this was a positive meeting, but from the outside, it seemed quite contentious. Did you get any indication from your interlocutors that they were going to make any… Continue reading This is new

Mercantilist revivalism

Used to be when you said "conservative" people had a clear idea of what you meant philosophically. Adam Smith, W. F. Buckley, Goldwater, Reagan, or Cruz might come to mind. Maybe it would invoke the tea party, free trade, Constitutional originalism, free markets, and opposition to deficit spending. Now, it's all a mess thanks to… Continue reading Mercantilist revivalism

A thought on President Trump’s apparent renewed Trade War

Any price increase due to import taxes, aka protectionist tariffs, exactly equals the reduction in the disposable income of consumers in the country imposing the tariff. While this benefits the general government coffers, it loots every citizen’s pocket - even those who never buy the good in question: The consumer is forced to either buy… Continue reading A thought on President Trump’s apparent renewed Trade War

DesaliNation

Protectionism is trickling down from Washington, and leading the charge is Michigan state Senator Rick Jones, yet another economically undereducated Republican. At present, Michigan buys road salt on a best price basis. However, our legislators are discussing a 6% tariff (note: this was originally 8%, as some of the articles quoted below state) on salt… Continue reading DesaliNation