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'Fair Trade'? Free Trade Is Fair Trade
Investors.com ^ | 12/27/2010 | Walter Williams

Posted on 12/29/2010 6:13:39 PM PST by BfloGuy

Last summer, I purchased a 2010 LS 460 Lexus, through a U.S. intermediary, from a Japanese producer for $70,000.

Here's my question to you: Was that a fair trade?

I was free to keep my $70,000 or purchase the car. The Japanese producer was free to keep his Lexus or sell me the car.

As it turned out, I gave up my $70,000 and took possession of the car, and the Japanese producer gave up possession of the car and took possession of my money.

The exchange occurred because I saw myself as being better off and so did the Japanese producer.

I think it was both free and fair trade, and I'd like an American mercantilist to explain to me how it wasn't.

Mercantilists have absolutely no argument when we recognize that trade is mostly between individuals.

Mercantilists pretend that trade occurs between nations, such as the U.S. trading with England or Japan, to appeal to our jingoism.

(Excerpt) Read more at investors.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; Government
KEYWORDS: freetrade; protectionism
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To: central_va
At this point, we are headed for that kind of infation because Free Trade™ has ruined the dollar.

Free trade doesn't increase the dollars in circulation, and therefore cannot 'ruin the dollar'. The dollars acceptance in world trade actually accrues value to the dollar that otherwise wouldn't exist.

A profligate Federal government is ruining the dollar, but some people see the symptoms of that and blame trade itself instead of the manipulators of the currency...

21 posted on 12/29/2010 6:49:41 PM PST by Gunslingr3
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To: Gunslingr3
I could agree to that with one stipulation - no increases in the existing tariffs.

You would have to shrink FedGov™ pretty good then. I like it.

22 posted on 12/29/2010 6:51:07 PM PST by central_va (I won't be reconstructed, and I do not give a damn.)
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To: Gunslingr3
I could agree to that with one stipulation - no increases in the existing tariffs.

You're going to run the entire federal government on 26 billion dollars? Because that's how much they collected last year in duties.

23 posted on 12/29/2010 6:51:15 PM PST by triumphant values (Never criticize that to your right.)
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Comment #24 Removed by Moderator

To: central_va

Dont’ worry.

Your socialist pals in Washington will continute to destroy America then blame Economic Liberty for it.

They will then detroy all liberty in the name of the Average Man.

The only insanity is to continue stupid socialist policies that have failed everywhere longterm.

Benedict Arnolds are the trade unions and all their socialist buddies.


25 posted on 12/29/2010 7:03:33 PM PST by Reaganez
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To: bert
Trade runs America. without it you would be starving

I doubt it. Agriculture is the one thing the Free Traders haven't totally f'ed up yet. But they are working on it.

26 posted on 12/29/2010 7:05:06 PM PST by central_va (I won't be reconstructed, and I do not give a damn.)
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To: Reaganez
Benedict Arnolds are the trade unions and all their socialist buddies.

This is a strawman. Nobody is suggesting erecting trade barriers to protect unions. We are talking about targeted tariffs to protect non-union manufacturing only.

Having said that, shipping entire factories so Communist slaves can work for almost nothing in the Socialist Utopia of China is supporting your Socialist buddies.

27 posted on 12/29/2010 7:10:15 PM PST by central_va (I won't be reconstructed, and I do not give a damn.)
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To: Reaganez
Your socialist pals in Washington will continute to destroy America ...

You're in good company then, because there isn't a major player in the NY-Washington power and pundit scene that isn't a free trade advocate.

28 posted on 12/29/2010 7:14:36 PM PST by triumphant values (Never criticize that to your right.)
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To: triumphant values
You're going to run the entire federal government on 26 billion dollars?

Imagine how little trouble they could cause with less than 1% of the current budget?

We have 50 State governments, several with budgets larger than that, so we won't run out of things for bureaucrats to do - fear not.

29 posted on 12/29/2010 7:24:38 PM PST by Gunslingr3
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To: lonestar67
Yeah the anti free trade crowd rightly warned us back in the 1980s that the continued practice would lead to our total ownership by japan.

Japan has, for instance, 5 strong independent car companies. How many do we have?

30 posted on 12/29/2010 7:24:37 PM PST by Last Dakotan (Hunting - the ultimate in organic grocery shopping.)
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To: BfloGuy
I think it was both free and fair trade, and I'd like an American mercantilist to explain to me how it wasn't.

All freedoms have associated responsibility. If the guy wants to indulge a little, more power to him. But taxpayers are on the hook for the pension plans of the union guys here who didn't get that work. There is also the SS ponzi scheme that is already in the red this year. Then there is the problem of his fellow American taxpayers who are on the hook for all of that. When they are thrown out of work because he decides to buy end-use goods abroad, then the remaining taxpayers have to pay more.

Conversely, anyone who proposes government-run trade restrictions needs to realize that the U.S. production market needs free trade to be competitive, we simply cannot make all the inputs the cheapest, but we can add the most value in many cases. So cutting off trade in some political manner is a very bad idea.

Bottom line is that personal responsibility can't be legislated, hopefully the author will figure out himself someday.

31 posted on 12/29/2010 7:25:52 PM PST by palmer (Cooperating with Obama = helping him extend the depression and implement socialism.)
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To: central_va
We are talking about targeted tariffs to protect non-union manufacturing only.

Do you think the US manufactures more or less than it did 10 years ago?

32 posted on 12/29/2010 7:28:00 PM PST by Gunslingr3
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To: central_va
Don't worry you Free Trade Nazi's will continue to get your way until the dollar is totally worthless and America can't even produce so much as a paper clip anymore. I am heavily invested in Gold as a protection against the Benedict Arnold MBA's that run K -street. So sell your country out. NOBODY is going to stop the insanity.
It is only on Free Republic you get to hear form Americans who can see the emperor is naked.

The emperor has been naked for 20+years and many here kept their eyes closed..it is only now when the reality is hitting home that 3rd world countries with a 5 cent an hour wage have engineers,accountants, lawyers, etc that can do their jobs as well, that now the reality is starting to hit home.

We no longer make steel, our auto plants and airplanes and some defense equipment is moving overseas.. we could not fight world war II today .. no plants to convert, no steel to build with .. and fewer and fewer skilled tradesmen ... a world blockade would find Americans dying without their meds.. hungry without the foreign foods and empty superstores and Best buys.. We do not make anything anymore..

This is Bush Sr. new world order.. how do we like it??

33 posted on 12/29/2010 7:33:51 PM PST by RnMomof7 (Gal 4:16 asks "Am I therefore become your enemy, because I tell you the truth?")
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To: Gunslingr3
Imagine how little trouble they could cause with less than 1% of the current budget?

When someone starts talking about a 99% cut of government, you know they're not actually interested in a serious discussion.

34 posted on 12/29/2010 7:35:45 PM PST by triumphant values (Never criticize that to your right.)
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To: triumphant values
You're going to run the entire federal government on 26 billion dollars?

I like the idea a lot.

35 posted on 12/29/2010 7:36:10 PM PST by John Valentine
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To: John Valentine
A 26 billion dollar government for 310 million people in 4 million square miles isn't anything but a call for anarchy.

The US government wasn't that small in proportion on day 2 after Providence Plantations and Rhode Island's ratification. Can we at least keep the conversation grounded to reality?

36 posted on 12/29/2010 7:42:13 PM PST by triumphant values (Never criticize that to your right.)
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To: triumphant values
You're going to run the entire federal government on 26 billion dollars?

I like the idea a lot.

37 posted on 12/29/2010 7:45:36 PM PST by John Valentine
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To: triumphant values

You know the world is backwards when giving 536 people authority to spend $3,400,000,000,000.00 isn’t just jibberish coming from the loony bin.


38 posted on 12/29/2010 7:46:32 PM PST by Gunslingr3
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To: Gunslingr3

There’s a lot of room between 26 billion and 3.4 trillion, now isn’t there? No need to be disingenuous about it.


39 posted on 12/29/2010 7:48:23 PM PST by triumphant values (Never criticize that to your right.)
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To: John Valentine
I like the idea a lot.

I'm sure there's a forum out there that caters to those of you wanting to see the dissolution of the nation. But this isn't it.

40 posted on 12/29/2010 7:49:56 PM PST by triumphant values (Never criticize that to your right.)
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