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Free Trade & Trade Policy

Protectionism: Rearing Its Ugly Head Again

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One of the principal tenets of libertarianism is the right of people to freely trade their goods and services with others. The reasoning is based on moral principles underlying private property and individual freedom. Each of us has the right to sustain his life by utilizing the talents and abilities with which we have been endowed by the Creator. ... [click for more]

Tariffs as Enemies of Freedom

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Some prominent protectionists, such as Pat Buchanan, are portraying high tariffs as an engine of national liberation — as a way to save Americans from foreign threats. However, tariffs always have been and always will be an enemy to individual freedom. The U.S. tariff code is the accumulated junk heap ... [click for more]

Restriction and Free Trade

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Two opposite doctrines oppose each other: The one, which is dominant in legislation and opinions, sees the way of progress in the surplus of sales over purchases, of exports over imports — in a word, what is called balance of trade. The other, which we try to propagate, is the exact ... [click for more]

The Antitrust Absurdity

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The Federal Trade Commission has aimed its antitrust cannon at Intel Corp., maker of the microprocessor used in 90 percent of personal computers. The FTC charges Intel with refusing to provide information about its chips to certain computer makers with which it has legal disputes. At first, it ... [click for more]

Some Free-Enterprise System

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The booming U.S. high-tech industry is doing so well it can't find enough well-trained employees to handle all the work. There are too few prospects in the United States to fill the need, so companies have recruited abroad. The problem is that a foreign-born person can't just move to the ... [click for more]

The Great Sugar Shaft

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The U.S. government has devotedly jacked up American sugar prices far above world market prices since the close of the War of 1812. The sugar industry is one of America's oldest infant industries — yet it dodders with the same uncompetitiveness that it showed during the second term of James Madison. Few cases better illustrate how trade policy can ... [click for more]

Forget the Trade Deficit!

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Memo to newspaper editors: Stop publishing stories about the trade deficit. You are needlessly worrying people about something that means absolutely nothing. Forget the trade deficit. There's no such thing. Adam Smith, that Scot who knew a fair bit about political economy, said: "Nothing is more absurd than this doctrine of the ... [click for more]

Bank Mergers and Progress

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The big hullabaloo about the latest bank mergers stems from a fundamental misconception about the way the world works. The unions of Citicorp and Travelers, NationsBank and BankAmerica, and Banc One Corp. and First Chicago have to be judged against the fact that we live in a world of uncertainty. ... [click for more]

Pay Equity Errors

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President Clinton has pledged to step up enforcement of the Equal Pay Act. The promised $14 million to fight wage discrimination was on his list of bribes to the American people, otherwise known as the State of the Union address. The president's Council of Economic Advisers says women make only 75 cents for each dollar men ... [click for more]

Economic Sanctions: Who Has What Rights?

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Christmas is one of the most joyful times of the year for most Americans. Gaily decorated houses, yards, and Christmas trees sprout nationwide in November and last until the New Year season closes the holidays with fireworks, parties and, finally, the Super Bowl. People decorate their Christmas trees in many ways, but one of the staples is bright, multicolored strings ... [click for more]

Freedom in Transactions

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On entering Paris, which I had come to visit, I said to myself — Here are a million of human beings who would all die in a short time if provisions of every kind ceased to flow towards this great metropolis. Imagination is baffled when it tries to appreciate the vast ... [click for more]

Order without Design

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Perhaps the toughest thing that libertarians have to persuade nonlibertarians of is the existence of order that is undesigned. It is certainly a counterintuitive idea. So much of our everyday experience seems to teach us that where there is order, there is a designer working from a plan. That fact ... [click for more]
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