My great colleague Walter Williams corrects more myths about trade. A slice:
What about President Donald Trump’s call to reduce our current account trade deficit? By the way, we know that we’re being deceived when a politician talks only about the current account deficit, without a word about the capital account surplus. If foreigners sell us fewer goods, they will earn fewer dollars. With fewer dollars, they will be able to make fewer investments in America. But that’s fine with politicians. The beneficiaries of trade restrictions are visible. Tariffs on tires, clothing and electronics will mean more profits and jobs and more votes for politicians. The victims of trade restrictions, such as people in the real estate market and other areas where foreigners are investing, are less visible.
Ryan Bourne corrects a common myth about the efficiency-wage hypothesis.
Kevin Williamson incisively argues that “Progressives'” supposed love of science is a mirage, but their love of power is very real. Here’s his conclusion:
The partisans of Science believe themselves to be part of an eternal war between Galileo and the Inquisition, but they have in fact chosen the Inquisition’s side. They have chosen the side of the Censor and the Index — so long as they get to choose who serves as Censor and who manages the Index. That is how they have reconciled Science and its claims of objective fact with identity politics and its denial of the same: They are engaged in neither the pursuit of fact nor the pursuit of Truth — only the pursuit of Power.
Governments tirelessly batter freedom; the Institute for Justice tirelessly fights such battering.
Warren Meyer sincerely puts a question to “Progressives.”
Marian Tupy explains that there’s never been a better time than today to be poor in America.
