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Tire Trade Tirade
Mises Institute ^ | 10-12-09 | Art Carden

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 ...


TOPICS: Issues
KEYWORDS: freetrade; liberty; protectionism; tires

1 posted on 10/12/2009 12:43:07 PM PDT by Neil Peart
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To: Neil Peart
Preventing trade means that we use more resources to produce less wealth.

But it can shift the remaining wealth from the population as a whole to one identifiable group. Concentrated benefits, diffuse costs.

2 posted on 10/12/2009 12:54:47 PM PDT by Lonesome in Massachussets (The People have abdicated our duties; ... and anxiously hope for just two things: bread and circuses)
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To: Lonesome in Massachussets

That essay is a classic.


3 posted on 10/12/2009 12:59:51 PM PDT by Neil Peart
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To: Neil Peart

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.


4 posted on 10/12/2009 1:04:53 PM PDT by Lonesome in Massachussets (The People have abdicated our duties; ... and anxiously hope for just two things: bread and circuses)
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To: Neil Peart
Also classic, Dr. Walter E Williams on the Steel Tariff: Economic stupidity
5 posted on 10/12/2009 1:06:15 PM PDT by NonValueAdded ("The President has borrowed more money to spend to less effect than anybody on the planet. " Steyn)
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