Posted on 09/29/2015 7:13:39 AM PDT by SeekAndFind
Free trade is supported by enlightened thinkers and academic economists. Those who are opposed to free trade are seen as special interests trying to shelter uneconomic industries that can’t stand up to foreign competition. It is a truism that no trade transactions would take place if they weren’t to the advantage of both parties. What could possibly be wrong with trade that is advantageous to both parties?
If free trade is so wonderful, one has to wonder why many of our trading partners are resistant to it. Perhaps these countries are just behind the times. They may not have caught up with the latest economic theories from the University of Chicago. For example, China has been the object of many trade complaints from the U.S. government. The Chinese subsidize exports. The Chinese engage in the wholesale theft of intellectual property – theft allegedly worth a hundred billion dollars per year. It is not plausible that the Chinese are behaving this way because they have failed to read the Economics 101 textbook at almost any college.
The theft of formal intellectual property – patents, copyrights, and trade secrets – is only one part of the transfer of intellectual property. A tremendous value of intellectual property takes the form of human capital – the accumulated knowledge of the workforce. If you have dealt with an airline reservation agent in India, you have an inkling as to the difference between American workers and those in more backward areas. If an American company opens a factory or a corporate research center in China, it is transferring human capital from the U.S. to China. Much learning takes place not in formal institutions of education, but in the workplace. This is especially true of the knowledge needed to make cutting-edge products.
(Excerpt) Read more at americanthinker.com ...
The fact that tariffs have the same effect on price differentials between markets as do transportation costs, and can be analyzed as the equivalent of additional transportation costs, implies that a country must benefit from a policy of free trade even if it adopts the policy unilaterally, with its citizens having to go on selling their goods in countries that continue to maintain tariff barriers. For a policy of unilateral free trade is analytically equivalent on its effect to a fall in inbound transportation costs, while outbound transportation costs remain the same.
“There is only three ways for a nation to create wealth: Agriculture, mining and manufacturing.”
Singapore. Hong Kong. Redmond, WA. Silicon Valley. New York City. London.
Religion of Free Trade bump for later...
The sacred doctrine among conservative lawmakers is stupid trade. That’s what we got with NAFTA, CAFTA, S Korea and Soon TPP. What we really need is smart trade.
the existence of countless American companies with presence through the world indicate plainly we have smart trade
isolationist are trying their best to kill what is fantastic American business by attempting to force their clueless agenda
The jig is up. Free Traitors™ are losing the favor of public opinion. We see the destruction, it is not possible to sell the Free Trade snake oil anymore. Nobody wants it.
PS: Protectionists are not isolationists.
The founding fathers were all protectionists but hardly isolationists.
actually by being an irrational protectionist you are truly an isolationist
protectionist policies isolate
Sadly you are wrong. Some American companies doing business outside the US are making great profits but its not doing anything for the US economy. Any country that carries the ongoing trade deficits we do is engaging in stupid trade not free trade. We need the jobs here in America.
Yep. Free Trade is awesome. We should trade on an “equal footing” with our Trade Partners.
They impose a tariff, we match it. Maintain equality.
Protectionism doesn’t work. Nor does “MFN” to Nations who have no interest in reciprocity, like China.
I posted the article below for you and a few others and then forgot to ping you
http://www.freerepublic.com/perl/pings?more=387674102
In light of our various discussions, it covers many of the topics.
bottom line, to return profitable manufacturing of an iconic toy to America it must be cheapened by making it from plastic
LOL what a lie.
President Jefferson sent the new US Naval fleet into the med to crush the Barbary pirates. I guess that is an example of isolationism. Get real pal.
you tend to overlook one major fact
practically no one agrees with you
Explain how the sugar tariff benefits me.
You assume I care if you get benefitted. :-)
I don’t favor tariffs on minerals and agricultural products. Where God put minerals and the climate for the different crops was up to him. Factories are man made constructs and that is what I think tariffs work best for manufactured products.
Ah, so you want to injure Americans. Now it’s clear. I thought you were from Georgia in America, not Russia.
What about manufactured minerals or ag products?
I would prefer to have food processing done in the USA for obvious safety reasons.
U.S. Trade agreements between its respective partners should reflect the same parameters the respective counter party is applying to the U.S.. For example, if China is allowing only 49% ownership of US firms doing business in China, then the U.S. should allow only 49% ownership of Chinese firms doing business in the U.S.
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