Protectionism and Free Trade

Let the WTO and all its agreements go already! We cannot salvage something that was broken from the start. 

EU politicians and technocrats like to present themselves as progressive and enlightened policymakers. But that virtuous mask slipped after German auto giant Volkswagen announced that its new facility would be located in Turkey instead of an EU member nation.

In the second half of the twentieth century, pro-union and anti-trade policies led to a Rust Belt that became uncompetitive, costly, and unable to cope with reality. More protectionism won't save the region now.

Tucker Carlson insists that capitalism is just a "tool" that governments can regulate and manipulate so as to better serve "the people." In practice, this just means one group of "the people" uses government policy to enrich themselves at the expense of others.

Today's tariff policy relies on the fanciful idea that politicians can pull the right levers to make the economy more efficient or more just. As always, the idea is based on fantasy.

In a globalized world, nearly every product or service relies on products and services from somewhere else.

The classical economists were also nationalists, and they viewed free trade as one of the most important means for advancing the security, prosperity, and cultural achievements of their own nations.

The British opponents of the Corn Laws rightly understood that tariffs and other restrictions on trade are violations of fundamental natural rights, and that they privilege certain entrenched interests at the expense of everyone else.

Brexit is an opportunity to reset economic, monetary, and trade policies. The implications of getting rid of the EU millstone go far beyond the leaving date of 31 October. 

For Ludwig von Mises, international bureaucracies like the WTO devoted to enforcing "free trade" are not progress. They're simply another type of government planning.