The fact that a larger market provides important gains in the form of a more intensive division of labor, and larger absolute size of the various specializations and sub specializations implies the desirability of worldwide free trade. Under worldwide free trade ever producer would be able to regard the entire world as his market. Production could be carried on in each locality on the vastly greater scale commensurate with a world market. Thus the division of labor could reach its maximum possible extent consistent with the existing size of the world’s population and the proportion of it already incorporated into the division of labor within the various national boundaries.
And we always speak of free trade and forget one thing. The flip side of that coin is open borders and free movement. In the Milton Freidman view, this is removing impediments for engineers, businessmen, salesmen, capital, etc.
In reality it’s 30 Million plus of Mexicans Africans and camel jockeys that have never used a flush toilet of had an immunization flooding into every corner of America.
It’s time for some nationalism first... until the American people have manufacturing jobs again. And save the lectures about how modern economies don’t do the manufacturing. Ive been to Germany and seen active factories building everything from machinery, to cars, to electronics and everything in between. THEY obviously see a reason to keep manufacturing active.
I heard a fellow on Breitbart Radio this morning state that tariff trade was part of America’s world economy for the first 130 yrs. The heyday of growth.
In some cases up to 40% tariff. A ‘break’ was given to countries that used US registered ships.
Woodrow Wilsos was a big proponent of Free Trade.
His point being Free Trade is NoT a conservative principle.
This info is supposed to be accessed on their website. Haven’t checked
It is almost funny to see that quote from Karl Marx [who was wrong on everything] posted on FR over and over and over again to justify protectionism.
Alas, I fear the irony is lost on the posters.
Are you studying free trade? I found this quote from Friedrich List on free trade awhile ago: “And who would be consoled for the loss of an arm by knowing that he had nevertheless bought his shirts forty percent cheaper? “