Posted on 10/12/2009 12:43:05 PM PDT by Neil Peart
In 2002, President George W. Bush helped make us poorer by signing off on higher steel tariffs. In 2009, President Barack Obama helped make us poorer by signing off on higher tire tariffs. Is this supposed to be change we can believe in?
Economic analysis shows that trade creates wealth. The law of comparative advantage demonstrates that when we specialize and trade, we produce more wealth using the same resources. Preventing trade means that we use more resources to produce less wealth.
(Excerpt) Read more at mises.org ...
But it can shift the remaining wealth from the population as a whole to one identifiable group. Concentrated benefits, diffuse costs.
That essay is a classic.
He also wrote the parabable of the broken window. If only Obama had fallen into the clutches of an Austrian instead of the Marxist clown posse he rides with.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.