Populists on the right (and left) are claiming that American prosperity came about because of high protective tariffs. But political rhetoric can't replace sound economics.
Most people think the Industrial Revolution catapulted humanity into modern comfort, but this narrative leaves out the agricultural revolution that had to come first.
Since the 1940s, failed statist schemes have dragged Argentina into poverty. Javier Milei, who is gaining popularity there, hopes to change his nation's sad history.
The Davos crowd sold globalization as a way to bring nations together. Unfortunately, by insisting on political conformity, the globalists have set the world on fire.
The African Continent Free Trade Area has the potential to serve Africans and bring about better living standards. However, it is threatened by government attempts to "manage" trade.
The world is in chaos, so politicians MUST do something. Hence, they demand autarky, which is like attempting to put out a fire by pouring gasoline on it.
Trade war means increasing the debt, eroding the public confidence, raising prices, and burdening the economy with interventions. All of it done in the name of the "public good."
This week's avocado ban—and the behind-the-scenes regulatory regime governing avocado imports—reminds us that there is no such thing as free trade between the US and Mexico.
