Capital should be mutually accumulating under "free trade"...our firms should becoming wealthier...not progressively selling off their posterity and becoming weaker and weaker. Only the unflinchingly pro-American national security advocates have been accurately predicting all these turns of events.
And the grim future we have forecast is unfolding before our eyes.
"With the demise of Big Blue as a PC manufacturer, I think even the Cato-ists and Von Mises-blindered dogmatists have to concede that something is seriously amiss in their theories."
No, this only confirms the free trade theories. "Big Blue" has demonstrated their total misunderstanding of the PC market from it's inception to today. Remember the "Peanut"? Now, "Big Blue" can focus their captital and talent on other uses that they understand. By focusing on their other products, they have the opportunity to increase their productivity and generate more wealth.
The "Fair Trade" folks would instead have enacted tariffs to protect "Big Blue" and artifically raise consumer costs introducing inefficienies in the market and reducing wealth for all.