“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
Power Failure
Oren Cass reviews Sohrab Ahmari’s new book, Tyranny, Inc., in First Things.
The Left of the Right
Matthew Continetti on the New Right and American Compass’s role in the realignment
The Nerd Trying to Turn the GOP Populist
New York Magazine on Oren Cass’s quest to make Republicans heed the interests of their working-class base.
