Trump’s position is particularly galling because of the total discontinuity between his approach on domestic and foreign economic issues. Just last week, I wrote a column that strongly defended Trump’s efforts to introduce competition and choice into the health care market. The same principles that work to make a domestic economy great apply with equal force to the international one. Giving consumers many choices induces suppliers to provide those goods and services that people want at prices that they can afford; otherwise, the suppliers will lose business to their competitors. To achieve success, firms must not only develop their own workforces, but deal with other firms to acquire the needed inputs, which are often more cheaply purchased than made. Some of these inputs will be acquired from overseas sources, so the objective of a sound trade policy should be a seamless interface between domestic and foreign markets—which is precisely what NAFTA helped achieve when it integrated the economies of its three separate signatories.
Here’s a video of a recent talk that EconLog’s David Henderson recently gave on inequality.
My colleague Larry White’s latest post is “Blockchain + Gold.”
In this short video, Johan Norberg reveals the real Che Guevara. (My stomach turns whenever I see someone wearing a Che Guevara t-shirt, for the wearer of the t-shirt is either proudly evil or, more likely, hopelessly gullible in his or her ignorance.)
Here’s Arnold Kling on the “elastic economy.”
Flake’s unforgivable sin in today’s Republican Party is that he has raised a public warning about the direction President Trump is taking the party and its conservative base.
