Maybe We'd Be Better Off with Less Commerce

by Don Boudreaux on February 11, 2006

in Trade

"Trade is far and away the largest weight on the U.S. economy at
present," said Mark Zandi, chief economist at Moody’s Economy.com.
"This is a risky time."

So we read in yesterday’s Washington Post.

Suppose Mr. Zandi had instead used a synonym for "trade": commerce.  Does it make sense to say that "Commerce is far and away the largest weight on the U.S. economy at present"?

I think not.  How in the world can trade — commerce — voluntary exchange — be a ‘weight’ on an economy defined overwhelmingly by a deep and extensive division of labor?

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