Non-economists often debate the merits of free trade and/or NAFTA. But if you ask economists, they are nearly unanimously in agreement in favor of both:
None of the economists surveyed disagreed that the gains to freer trade are much larger than any costs. And only two economists even said that the answer is uncertain. In a space for additional comments, […]
I got back from a five day trip to Chicago yesterday, and as such, was able to catch up on a lot of my magazine reading. A review that caught my attention was Amitabh Pal, of The Progressive Magazine, review of Ha-Joon Chang’s recent book 23 Things They Don’t Tell You About Capitalism. For those […]
Last months issue of the Atlantic had a fascinating article on the global elites, here are some snippets I found interesting:
From a global perspective, the impact of these developments has been overwhelmingly positive, particularly in the poorer parts of the world. Take India and China, for example: between 1820 and 1950, nearly a […]
An economics professor at UCSD explains:
Over the last three decades, Mexico has aggressively reformed its economy, opening to foreign trade and investment, achieving fiscal discipline, and privatizing state-owned enterprises. Despite these efforts, the country’s economic growth has been lackluster, trailing that of many other developing nations. In this paper, I […]
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Why the “Buy American” campaign is just another union power grab and should be ignored.
“Tax policy toward American multinational firms would appear to be approaching a crossroads. The presumed linkages between domestic employment conditions and the growth of foreign operations by American firms have led to calls for increased taxation on foreign operations - the so-called end to tax breaks for companies that ship our jobs overseas. At the […]
“Mr. Obama and the Democrats who favor labor standards in trade agreements mean well, for they intend to fight back at oppressive sweatshops abroad. But while it shocks Americans to hear it, the central challenge in the poorest countries is not that sweatshops exploit too many people, but that they don’t exploit enough. Talk to […]
“What would you call a group of economists who are skeptical of regulating mortgage markets, who think unemployment insurance and unions increase unemployment, who say that tax hikes retard economic growth, and who believe that the recovery from the Great Depression was a monetary phenomenon rather than the result of New Deal fiscal policy? No, […]
“Free trade with Colombia can’t have anything to do with loss of US jobs: Colombia’s exports already enter the US duty-free. Rather, the Free Trade Agreement would reduce remaining Colombian barriers to imports from the US….It is hard to escape the conclusion that the only reason Congressmen are opposing the Colombian […]
“Trade is just one manifestation of consumer sovereignty. Just as there are, by Blinder’s calculus, winners and losers from consumers shifting their expenditures from goods made in America to goods made abroad, there are winners and losers from consumers shifting their expenditures from goods made in Illinois to goods made in Arizona - and […]
It looks like they are making the problem worse:
Candidates rebuked for attacks on Nafta
Mexico and Canada on Wednesday voiced concern about calls by Barack Obama and Hillary Clinton to renegotiate the North American Free Trade Agreement, as the Democratic presidential hopefuls compete to adopt the most sceptical stance towards free trade ahead of next […]
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So argues University of Rochester Economics Professor Steven E. Landsburg. Do you agree or disagree? If you disagree, I’d be interested in knowing why.
“Gustavo Vega, director of the Center for International Studies at the prestigious Colegio de Mexico in Mexico City, said that while NAFTA has helped create more jobs for Mexicans, it has not helped create enough of them. Still, had it not been for passage of the North American Free Trade Agreement in 1993, Mexico would […]
Ben Bernanke gives his thoughts on Globalization:
Trade benefits advanced countries like the United States, but open trade is, if anything, even more important for developing nations. Trade and globalization are lifting hundreds of millions of people out of poverty, especially in Asia, but also in parts of Africa and Latin America. As a source of […]
“Without subsidies, it would not pay for Americans to produce much cotton; with them, the US is the world’s largest cotton exporter. Some 25,000 rich American cotton farmers divide $3 to $4 billion in subsidies among themselves – with most of the money going to a small fraction of the recipients. The increased supply depresses […]
Yahoo News reports:
BOSTON (Reuters) - Private tutors are a luxury many American families cannot afford, costing anywhere between $25 to $100 an hour. But California mother Denise Robison found one online for $2.50 an hour — in India.
“It’s made the biggest difference. My daughter is literally at the top of every single one of her […]
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