Are Trump’s cabinet full of generals, his openness to torture, and the “peace through strength” message from the White House all signs that he plans to rely on military power.
One of the gravest economic mistakes that humans can make is to forget that ours is unavoidably a world of scarcity.
We don’t have to have to be like Brady and have an absolute advantage to profit.
Free trade doesn’t just make us better off. It makes us better people. Donald Trump claims that raising barriers to trade is one of the things it will take to “Make America Great Again,” but he is wrong. Greatness—both of wealth and of moral character—comes from trade. And we have known this for a very […]
One of the most egregious misunderstandings about trade is that the government of country A should allow its people to trade freely with peoples of other countries only if governments of, and producers in, other countries “play by the rules” – which usually means “plays according to the rules that the rulers and politically powerful […]
Trump-style economic nationalism, like the more full-throated fascism with which it shares much, aims to bring back the mythical glory days of the nation. But if we really want to make America great (again), we should learn the lesson of history, as well as economic theory, that prosperity comes from the free movement of goods, services, and people regardless of arbitrary political lines.
On Friday, January 20, 2017, Donald Trump was sworn in as the 45th President of the United States. His victory in the 2016 election was a surprise to many, and his success in the so called Rust Belt made it happen. Wisconsin, Michigan and Pennsylvania all went to Trump, something that hadn’t happened for a Republican […]
Commerce brings out the best in human beings by providing incentives to care about others. Those who can’t rise above focusing on their short-term narrow needs have little ability to meet the needs of others.
In today’s globally connected world with dynamic global supply chains for raw materials and inputs, and global marketplaces for final sales, it’s an economic fact of the modern world economy that: a) exporters are importers and b) importers are exporters.
Only individuals, separately or in voluntarily formed groups such as firms, trade; countries as such do not trade.
Donald Trump is president. Here are his six biggest threats to liberty.
“The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it.” — Adam Smith
The problem is that business experience does not automatically translate into good economic policy.
We spend a lot of time and energy getting gifts for our loved ones. Yet a look at the return lines in many stores this time of year seems to indicate our time could be better spent wrapping a corresponding amount of cash. Why don’t we?
For almost a decade, Congress debated creating an immigration system free from discrimination by nationality, country of birth, or country of residence. President-elect Trump, however, now proposes to discriminate unlawfully against certain foreign nationals on the basis of the same protected grounds without any legislation from Congress.
Trump’s base will be hurt the most by his wealth-destroying and punitive trade policy.
The common American narrative that Japan launched an entirely unprovoked attack on an American territory — and therefore the US was right to respond in self-defense — is a fiction.
This past week, I was on a panel for a Senate Hill Briefing entitled “Should compensation for bone marrow donors be legal?”
Have you ever stopped and looked around the grocery store? There are thousands of products neatly arranged and conveniently located just for you.
If we want the market order to survive, we will have to continue to treat it both in theory and practice as a realm of moral and virtuous behavior.
This thought experiment will help you wrap your head around the inanity of Trump’s trade policies.
Suppose that Smith, your neighbor in New Haven or your friend in Fayetteville, produced a lot of auto parts that consumers voluntarily bought at prices that earned for Smith a sizable fortune. Suppose further that Smith prudently saves a large chunk of his fortune, some of which he uses to start a glass-manufacturing plant in […]
A good part of the ethics of enterprise is reflected in the integrity, discipline, and quality of character that must enter into those individuals who choose the role of entrepreneurial leadership.
Donald Trump is a protectionist like many other politicians, save that he unfurls his vast economic ignorance more fully and more proudly than do more seasoned politicians. I’ve more questions for Trump and his fans, and, indeed, for protectionists of all stripes, colors, and temperaments. Such as…. – If you buy your tomatoes and okra […]