Jump to content
Objectivism Online Forum
Sign in to follow this  
Gus Van Horn blog

Reblogged:Harding to Trump on Trade

Rate this topic

Recommended Posts

Preach What You Practice

Over at An Independent Mind, Jeffrey Harding nicely explains the foolishness of Donald Trump's recent tariff talk, with the President's own dealings as a point of departure:
Image of Trump Turnberry via Wikipedia.
If it is the case that we have been fools to engage in "one-sided" free trade with other countries, then Trump personally entered into a "very stupid" deal resulting in a huge personal trade deficit. He bought a couple of golf courses in Scotland and, get this, the Scots didn't buy any golf courses or anything else from him. He has poured more than $220 million into buying and operating them all for the benefit of Scottish workers. His balance of payments deficit with Scotland is $220 million! What a sap. Just so you know, "countries" don't have trade or payments deficits, businesses and individuals do because they are the ones buying foreign goods, not the "United States of America". [footnote and links omitted]
Harding goes on to offer an accessible explanation of the various errors inhering in protectionism. Furthermore, he also points out that, when Trump brags about how well the economy is doing -- while also spoiling for a trade war -- he is contradicting himself. I thank Harding for calling on Congressional Republicans to reign him in, and reminding them that a trade war was one of the major causes of the Great Depression.

-- CAV

Link to Original

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Create New...