Free Trade & Trade Policy

Anti-Dumping Laws

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ANTI-DUMPING LAWS have been with us since the early decades of the 20th century. Ostensibly aimed at preventing unfair trade practices, they have in recent decades been used mostly to punish foreign producers for offering their products to domestic consumers at low prices. Rather than being used to protect the public (from low prices), they have been used to ... [click for more]

The Value of Athletes

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Some people complain that professional athletes make too much money -- that the salaries they receive are ridiculously high, perhaps even immoral. But is this actually the case? Aren't athletes' salaries, like everyone else's in the private sector, ultimately determined by the desires or demand of consumers? Isn't that how the value ... [click for more]

The Free Market Is Indomitable

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Deep in the November 14 New York Times report on the liberation of Kabul there was this perhaps little-noticed paragraph: "Food appeared plentiful. A central market that lines the road leading into the city had large amounts of fresh meat for sale, fruit juices from Iran and even Coca-Cola, a ... [click for more]

Settling for an Injustice

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The federal government's antitrust case against Microsoft apparently will end in a settlement. All that remains is for the presiding judge to give her blessing and for some recalcitrant state attorneys general to get on board. It's understandable why Microsoft would acquiesce in a settlement. The long case has been costly. ... [click for more]

Avoid Phony Public Service

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The dean of Harvard’s Kennedy School of Government, Joseph S. Nye Jr., laments that while in 1980 three-quarters of the graduates took government jobs, just one-third does so these days. That’s a good trend. But not good enough. Here’s hoping the number drops further. Many people will ask, who could ... [click for more]

A Regulated-Economy Agreement for the Americas

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DURING THE WEEKEND of April 20–22, 2001, the leaders of countries in North, Central, and South America met in Quebec, Canada, to approve an agenda for establishing free trade throughout the western hemisphere by 2005. The news media gave a great deal of attention to the thousands of demonstrators who clashed with the police. Representing a wide variety of diverse ... [click for more]

Free Markets Aren’t Conservative

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One of the great myths of the Industrial Age is that businessmen generally like free markets. That myth has deep implications and consequences. For example, someone who buys into it will tend to believe that proposals to deregulate markets are simply favors for special interests and inimical to the interests ... [click for more]

Free Trade without the “But”

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Heads of state throughout the Western Hemisphere gathered recently in Quebec City to talk about setting up a hemispheric free-trade zone. But as usual, the politicians spoke with forked tongues. When these guys say “free trade” they really mean “free trade, but.” There are more ... [click for more]

The Return to a Global Economy

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AFTER TWO WORLD WARS, the Great Depression, and experiments with socialism interrupted the liberal economic order that began in the 19th century, the world economy has now returned to the level of globalization that it previously enjoyed. By the 1970s, trade as a share of world economic output had already reached its pre–World War I height. During the past ... [click for more]

The Fundamental Rights of the European Union: Individual Rights or Welfare-State Privileges? Part 2

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Part 1 | Part 2 IN NOVEMBER 1934, during the dark years of growing tyranny throughout Europe, British historian Ramsey Muir penned a short article that appeared in the pages of the journal The Nineteenth Century and After. His theme was “civilization and liberty.” He asked how it was that of all the civilizations around the world, only the ... [click for more]

Market Liberalism, International Order, and World Peace, Part 2

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Part 1 | Part 2 In 1952 ,free-market economist Michael A. Heilperin delivered a lecture entitled “An Economist’s Views on International Organization.” He told his audience, It is an elementary, but often forgotten, knowledge that policies of national governments have always been the principle obstacle to economic relations between people living in various countries, and that whenever these relations ... [click for more]
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