Protectionism and Free Trade

The problem with the European Union is not that it seeks to integrate Europe's economies. The problem comes from attempts to integrate politics as well. 

If Punjabi farmers had been portrayed as affluent, the media would view them as greedy entrepreneurs. But leveraging the political capital of perceived powerlessness has allowed them to obscure their true status as rent seekers. 

If Punjabi farmers had been portrayed as affluent, the media would view them as greedy entrepreneurs. But leveraging the political capital of perceived powerlessness has allowed them to obscure their true status as rent seekers. 

Every depression generates a clamor among many groups for special privileges at the expense of the rest of society—and the American depression that struck in 1784–85 was no exception.

Protectionists are always wrong, but they're obviously wrong when it comes to "protecting" US goods from Anglosphere competition. Neither geopolitcal concerns nor fears of capital flight to "cheap labor" apply in this case. 

Our guest today is Terence Kealey, Professor Emeritus of clinical biochemistry at the University of Buckingham in the United Kingdom, and Research Fellow at the Cato Institute.

With the Caribbean trade bloc Caricom, we find an international "free" trade agreement being used by a Dominica-based company to demand more limits  on trade between Jamaica and a country outside the bloc. This isn't about free trade. 

A trade deficit isn't actual evidence that anything is wrong. But if it were, one of the best things to do would be to reduce government spending. Unfortunately, politicians disagree. 

A trade deficit isn't actual evidence that anything is wrong. But if it were, one of the best things to do would be to reduce government spending. Unfortunately, politicians disagree. 

What's a telltale sign of economic illiteracy? I'm starting to believe the worst is the claim that markets lead to monopoly and the accumulation of wealth in a few hands.