AUSTRIAN ECONOMICS ADDICT

Free Trade Is The Path To Prosperity, by Georgi Vuldzhev, at mises.org. – When people make voluntary exchanges,  both parties actions reveal that they value what they have received more than what they have given up. It is an increase of value for both parties. Without trade each of us would have to produce all the goods we wanted to consume. Would you have enough time or knowledge to pull this off? No chance! If you had to pull this off, would you be poorer? Absolutely! When government interferes with trade (voluntary exchange), society becomes less prosperous. Are you listening Mr. Trump, Mr. Sanders, and Mrs. Clinton? Politicians purchase votes, at a low cost, with protectionist rhetoric. Unfortunately the high cost of government trade restrictions, subsidies, and tariffs, is paid by consumers and workers who lose their jobs.

Donald Trump vs. Milton Friedman on Trade Policy. by Mark J. Perry, at carpediemblog. – In time of war countries blockade their enemies ports to prevent imports from coming in. Why? Because it harms them economically. Tariffs are the same as blockades. Blockades prevent trade, which causes economic harm. Henry George said: “What protection teaches us, is to do to ourselves in time of peace what enemies seek to do to us in time of war.” Donald Trump has proposed a 45% tariff on Chinese goods. Just because you are successful in the business world doesn’t mean you know anything about economics.

Here is the video from LibertyPen

Related Article – Specialization And Trade Create Wealth, at austrianaddict.com.

Related Article – Walter E. Williams: Voluntary vs. Involuntary Exchange, or Seduction vs. Rape, at austrianaddict.com.

This entry was posted on March 16, 2016 at 11:20 pm and is filed under Econ. 101. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: Free trade, Government Trade Restirctions, Path To Prosperity, Protectionist Rhetoric, Tariffs, Tariffs = Blockades, Trump vs. Milton Friedman