American protectionism and Asian responses

On October 10, 2018, a senior Chinese diplomat in India underscored the need for New Delhi and Beijing to work jointly in order to counter the policy of trade protectionism being promoted by US President Donald Trump. It would be pertinent to point out that US had imposed tariffs estimated at $200 billion in September … Continue reading American protectionism and Asian responses

Protectionism and Job Loss: Part Nine of a Nine Steps Series (And Last, I Think.)

This is the last installment of a series of nine short essays in which I attempted to explain a topic that is both important and misunderstood by many intelligent people: protectionism and its obverse, free trade.  […] When economic actors, people and organizations, switch from doing what they don’t do very well to what they … Continue reading Protectionism and Job Loss: Part Nine of a Nine Steps Series (And Last, I Think.)

The Escalators (Part Eight of Eight so Far on Protectionism)

Ninth and probably last installment soon: Do people lose their jobs because of free trade? In the story in seven episodes some of you had the patience to read, I kept pushing aside the question of what happens to the work done by those who move upward. If you will recall, I abandoned half of … Continue reading The Escalators (Part Eight of Eight so Far on Protectionism)

Economies of Scale and Economies of Scope, Bane of Protectionism. (Part Seven of Seven so Far. More Coming.)

Because I have decided to go one little step at a time, there are six previous installments of this series. All comprise the word “protectionism” somewhere in their titles. Because, we are all richer, Luis, I , the Quebec farmer and Pierre are in a better position to buy German manufactured goods than we were … Continue reading Economies of Scale and Economies of Scope, Bane of Protectionism. (Part Seven of Seven so Far. More Coming.)

National Specialization, the Virtuous Obverse of Protectionism (Part Six of a Series)

Luis, I, the Canadian farmer, Hans, and Pierre have all improved our productivity. We all earn more. We have increased our ability to buy anything at all, stuff, leisure, occupational training, or anything we want. We did this without working more than we used to. We have helped the world become richer. None of us, … Continue reading National Specialization, the Virtuous Obverse of Protectionism (Part Six of a Series)

Free Trade and Protectionism: The Story of Pierre. Part Four of a Series

This is the fourth installment of a continuing series of very small essays on protectionism and free trade. Those are daunting subjects neither the media nor schools explain well, I think. I am taking small steps on purpose. The first two installments were posted on the same day. All installments will comprise the word “protectionism” … Continue reading Free Trade and Protectionism: The Story of Pierre. Part Four of a Series

Protectionism; Free Trade, Step by Step

Here are the first two installments of a series of eight explaining something important that few people understand. The subject of protectionism is important because the concept is intuitively appealing and its implementation a recipe for poverty. Part One I hear more and more talk of protectionism, not only on the left where you would … Continue reading Protectionism; Free Trade, Step by Step

The View from New Delhi: Trump vs. Biden

Introduction In the run-up to the US elections, presumptive Democrat candidate Joe Biden’s lead over Donald Trump has been steadily rising, and is well over 10%, according to various polls. There are four months to the election, however, and it is too early predict the outcome. Many believe that the mercurial Trump is likely to … Continue reading The View from New Delhi: Trump vs. Biden

Damned Models and Cutting off the Chinese

I have a good eye for what ought to be there but isn’t. Don’t congratulate me; it’s a natural talent. I am retired so, I usually spend hours listening to the radio, reading newspapers and, watching television and, (Oops) on the internet. Nowadays, I do more of the same. Today’s lecture is going to be … Continue reading Damned Models and Cutting off the Chinese

Is Dominic Cummings a hypocrite, or does the EU’s Common Agricultural Policy just suck?

On Saturday, The Observer revealed that Prime Minister Boris Johnson’s recently appointed chief of staff received around £235,000 of EU farm subsidies over the course of two decades in relation that his family owns. Dominic Cummings is often portrayed as the mastermind behind the successful referendum campaign to Leave the European Union. So he is currently … Continue reading Is Dominic Cummings a hypocrite, or does the EU’s Common Agricultural Policy just suck?

The long-run risks of Trump’s racism

This week, the United States and much of the world has been reeling from Trump’s xenophobic statements aimed at four of his Democratic opponents in Congress. But the U.S. economy continues to perform remarkably well for the time being and despite his protectionist spasms, Trump is widely considered a pro-growth, pro-business President. This has led … Continue reading The long-run risks of Trump’s racism

Institutions, Machines, and Complex Orders (Part 2): Moral and Politics

It is a characteristic feature of Modernity to separate between private morality and public ethics. The first concerns the ethics of principles by virtue of which each individual governs his own sphere of autonomy. Each individual, while not interfering in the interests of third parties, is a legislator, judge, and part of their own moral … Continue reading Institutions, Machines, and Complex Orders (Part 2): Moral and Politics