By John Lott, Worldwide Expert on Guns & Crime
Economists
across the political spectrum predicted that President Trump's trade
negotiations would end in disaster. Now that his Aug. 1 deadline has passed without
the sky falling - and with multiple advantageous deals completed - it's time to seriously re-evaluate the flawed arguments the
experts made against his strategy. Many, it turns out, made basic errors in
economic reasoning. On the left, Nobel laureate and Columbia professor Joseph
Stiglitz declared in January that Trump's policy was "very bad for America
and for the world," while University of Michigan economist Justin Wolfers
called it "impressively destructive." On the right, prominent
free-market advocates like George Mason’s Donald Boudreaux also voiced strong
opposition. Yet their arguments
against tariffs revealed a fundamental misunderstanding: They decried tariffs
as uniquely harmful, while ignoring that the same logic applies to all taxes. [more...]
No comments:
Post a Comment