Only individuals, separately or in voluntarily formed groups such as firms, trade; countries as such do not trade.
America can run trade deficits forever.
Over at Cafe Hayek, Professor Don Boudreaux has outlined an objection (or addition, really) to our recent Learn Liberty video with Peter Jaworski: War Sucks, What Is It Good For? He writes: “Countries whose peoples trade extensively with each other are less likely to go to war with each other not only because people in […]
The following post appeared on Don Boudreaux’s blog, Cafe Hayek, on December 20th, 2015. There’s been a lot of reporting recently about a new Pew Research Center report misleadingly titled “The American Middle Class Is Losing Ground” and even more misleadingly subtitled “No longer the majority and falling behind financially.” But here’s a picture of Pew’s […]
The following is an excerpt from Don Boudreaux on his blog, Cafe Hayek. Be sure to click through and read the whole post. Deirdre [McCloskey] acknowledges that a great deal of exploitation has occurred throughout history – exploitation that enriched some people and impoverished others. (Indeed, such exploitation continues to occur in various forms and degrees.) […]