Sponsored Content
« Mid-Morning Open Thread [CBD] | Main | Trump Conceding Colorado to Cruz? »
April 08, 2016

Free Trade as the Populist Bogeyman [krakatoa]

Jonah Goldberg offers some perspective on Free Trade.

I think the math on all this is wrong. Free trade is good for most American workers and all American consumers, not just the "1 percent." Indeed, it is largely thanks to trade that the average American worker is in the top 1 percent of earners in the world. The protectionists are also wrong philosophically. Countries don't trade with others countries; businesses and consumers transact with other businesses and consumers. Protectionism is corporate welfare by other means.

National Exceptionalism has its place in economics, but it should not in itself be a barrier to open trade. Populists tell us the trade deficit is a significant cause of all our economic woes. This is simply false. It is, in the main, an effect of our current (and seemingly interminable) moribund economy.

Our biggest economic problems are the budget deficit dominated by Government spending & debt, and the throttling of entrepreneurship and capital investment by the ever expanding and extra-legislative regulatory state.

No amount of protectionism can alleviate either of those.

I don't discount that "making a better deal" with our trading partners is possible. And I don't doubt that Donald Trump could make good deals. I happen to think that is essentially the only thing he might, on the whole, be good for as a president, but must admit that given his lack of consistent policy statements that it is hard to know what else he might be good for.

If our trade agreements (ed: corrected term for clarity) were our biggest problem, Trump might be the answer.

The trick to economic recovery is the same today as it was in the 80's: Rein in the government.

What I would want from any president that was representing me would be a dedication to things like:

  • Reducing existing regulations.
  • Requiring regulations that impact economic activity to have to pass legislative muster.
  • Simplifying the tax code, which includes removing tax haven loopholes while at the same time cutting tax rates.
  • Allowing corporations to repatriate tax-free their capital earned and taxed overseas.

We cannot at the same time enjoy our First World comforts, and demand First World pay rates for Third World productivity. It is simply economically impractical, if not entirely impossible.

We should be striving to enjoy the benefits of free markets and demand more access to them, rather than protection from them.

digg this
posted by Open Blogger at 12:00 PM

| Access Comments

Recent Comments
Anonosaurus Wrecks, Is this the real life? Is this just fantasy? [/s] [/b] [/i]: "New York City just introduced crack pipe vending m ..."

Join Moron Robbie in Celebrating Groomer Awareness Month!: "ace, don't miss this: NYT "The decision by s ..."

Aetius451AD Work Laptop: "I continue to be impressed by National Review's ne ..."

McCool: "They loved taking billions in covid money.. but no ..."

Joe Mannix (Not a cop!): "[i]The decision by CNN's corporate overlord to ins ..."

ace: "hi sharon! ..."

Xipe Totec: "We would have won without Russia, but there would ..."

Inogame: "SPONGE! ..."

RedMindBlueState[/i][/b][/s][/u]: "Nood - CNN. ..."

BourbonChicken: "/sock ..."

gnats local 678: "almost first ..."

Chatterbox Mouse: "In other news, the PGA and LIV Golf have merged. ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64