The Baguette Shop, or an economic parable on asymmetrical competition You own an artisanal bakery that makes the best $2 baguettes in town—business is booming. In fact, business is so good that a German bakery . . .
U.S. Commerce Secretary Wilbur Ross told CNBC on Tuesday that President Trump’s tariffs wouldn’t hurt American consumers, noting that because the price increase will be “spread over thousands and thousands of products, nobody’s going to . . .
Everyone and their dog has heard of Adam Smith, John Maynard Keynes, and Milton Friedman. Not only are they some of history’s most influential economic thinkers, they are intellectual celebrities. Books like the Wealth of Nations are . . .
Most Americans Support Trade Theoretically, but Don’t See Practical Benefits New public opinion data from Pew Research finds that while Americans support global trade in principle, many are skeptical of its practical benefits—particularly regarding job . . .
In 1993 President Bill Clinton promised that the North American Free Trade Agreement (NAFTA) would create “a million [American] jobs in the first 5 years.” He also said NAFTA’s “side agreements” would “make it harder . . .
Had I as many souls as there be stars, I’d give them all for Mephistophilis. ~Doctor Faustus Spectators claim that Satan himself appeared on stage during the opening performance of Christopher Marlowe’s play Doctor Faustus . . .
On July 15 President Trump tweeted: the European Union is America’s “foe” because of “what they do to us in trade.” The European Council President Donald Tusk frantically responded: Europe and America are the “best . . .
Adam Smith, author of An Inquiry into the Nature and Causes of the Wealth of Nations, considered the arguments made by today’s proponents of unilateral free trade and responded to them in print – more . . .
Understanding Karl Marx on Free Trade What do David Ricardo, Ben Shapiro, and Karl Marx have in common? They’re all free traders. No, this is not a tongue-in-cheek jab designed to smear Ricardo or Marx. . . .
a wolf in sheep’s clothing In a piece for the Washington Post, former CNN correspondent Heather Long, and her colleague Andrew Van Dam, write that President Trump’s tariffs will hurt Trump voters the most. Their . . .