“Balanced” trade hasn’t worked out so well.
RECOMMENDED READING
It is a tragedy that Friedrich Hayek’s excesses, invested with the authority of his (deserved) reputation, became the unexamined default for right-of-center economic thinking in America.
The resulting orthodoxy too often combines a Panglossian insistence on defending market outcomes regardless of their quality with a reflexive belief that policy intervention can only be distortive for the worse.
But when it comes to international trade’s effect on the American economy, a knowing assertion that nothing should be done, followed by yet another “analysis” working backward to an argument that nothing needs doing, will no longer do.
Recommended Reading
The Problem With Empty U.S. Campaign Promises
Both Harris and Trump seem determined not to be pinned down on policy
The Rival Trading Blocs We Make Along the Way
A roundup from Oren Cass about what you should be reading from around the web over the last week to better understand America.
iThink Therefore iAm
Technology’s transformation of human existence is rendering conservatism irrelevant
