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Some Links

My intrepid Mercatus Center colleague Veronique de Rugy responds to Julius Krein’s criticism of her earlier essay on NAFTA. A slice:

For those truly curious about what the broad and vast literature says on whether we can really blame the current hardship of working-class Americans on trade with China (even assuming, incorrectly, that the “China Shock” is relevant in a piece about NAFTA), I highly recommend reading this detailed piece by the Cato Institute’s Scott Lincicome. If you want firm evidence, serious economic studies, a thorough review of the literature, and solid data, he’s got them.

Also from Veronique is this exposé of a dangerous GOP proposal to give Trump more power to negotiate – and to raise – tariffs. A slice:

Moreover, while Rep. [Sean] Duffy claims he is “a free trader,” apparently he doesn’t understand that the economic case for free trade is fundamentally unilateral. A country gains by lowering its tariffs regardless of what other countries do. Yes, it would be great if all duties around the world were cut to zero. However, the United States would still benefit from lowering its tariffs to zero, independent of other countries’ trade policies.

Also wisely opposed to the GOP proposal to expand Trump’s power to raise tariffs is Doug McCullough.

John Tamny understands the benefits of trade.

Chloe Anagnos sings the praises of market-tested competition.

Greg Mankiw is right that Emmanuel Saez and many other proponents of soaking-the-rich are wrong to suppose that very rich people haven’t earned their great wealth. (But see also David Henderson’s codicil.)

My GMU Econ colleague Bryan Caplan wonders why those who ostentatiously let their hearts bleed are so quick to used mailed fists.