Posted on 07/26/2018 12:27:49 PM PDT by central_va
Yes, Rush admitted one-sided trade is not really free trade. A little late but we are grateful none the less.
Juncker and the E.U. has figured out it is better to protect their markets in the US than fight Trump in making way for more U.S. good sold in Europe. grudgingly China will eventually open their markets. Xi must be seeing the writing on his walls.
American media, left & right, are conned about basic economics, and are easy to con.
I heard a little of Levin yesterday. He isn’t as sold as yet, but I think he gave some ground.
“Part of the sea change may involve the rewriting of Hazlitt’s chapter on international trade.”
I agree. It is Hazlitt’s weakest area, and is out of touch with the realities of today’s globalized trade.
American industry was inherently protected by the oceans during Hazlitt’s heyday, before and shortly after WWII. Total imports and exports were just a few percentage points of our total GDP. Now with the huge capacity of container ships and an Interstate highway system to distribute the goods, including industrial scale refrigeration and long haul jet aircraft for perishable goods; it is now physically possible/economical to off-shore essential production.
Capitalism, driven by self interest and competition, is still the best system - but free and fair competition must be assured for it to work. People will always seek to fix the market.
Adam Smith pointed it out centuries ago:
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
All the more so, when politicians and businessmen around the world explicitly meet to discuss how to grow their country’s economies. They are endlessly clever in devising subtle advantages and barriers against their competitors.
“It’s funny he would do that just a day after Trump admitted his trade war was asinine and begged for a truce from the EU.”
what the hell are you talking about? The EU just completely capitulated after only two weeks of tariffs, pledging true fair trade, eliminating THEIR tariffs on everything except automobiles ...
Your post pretty much sums up Limbaugh.
And I’d guess the latter you mentioned, “He’s been knowingly lying carrying the party line” is the most accurate.
oops. maybe you meant that as sarcasm ...
It will only be a mea cupla if he sticks to it and does not go back on it.
I hope Rush stays here.
Andrew Wilkow is much better than Rush.
You forgot the ‘/s’ tag. Wilkow has been on frequent pro-fake free trade rants. He’s embarrassing on the ‘free trade’ topic.
I’m just glad to hear Rush talk about anything other than Russia, Russia, Russia, Russia.
I started listening to Rush during the second half of 1991. Soon after that, the NAFTA debate started and Perot announced his candidacy on the Larry King show. I think Rush’s instincts were against NAFTA and he sort of thought aloud about it on the air for a few months.
Then one day he went all in for it, reading what I think was some think tank’s, or some economist’s position paper in favor of NAFTA. I was totally against it from the get go and totally for Perot until he pulled his drop out stunt.
I listen to Rush almost daily, but have never paid much attention to his views on economic matters, especially international trade. Deconstructing liberals and liberalism is his specialty. - Today was a fairly dramatic admission, admitting that the pretend free trade he’s supported for years had been a bad deal for the USA.
Free Trade is like playing Monopoly where everyone else is ‘FREE’ to disregard the rules. It is not surprising then that no matter how good you are you are going to lose.
Very astute observation.
Trumps deal with the EU was exactly what I suspected would happen from the very beginning.
Oh ye of little faith.
“https://voxday.blogspot.com/2012/07/mailvox-hazlitt-international-trade.html";
This link that you provided does raise many substantial problems (23) with Hazlitt’s trade analysis.
Someone should get it to Mark Levin, for his consideration.
The bottom line is that Hazlitt’s Economics in One Lesson was a primer geared toward a popular audience, whose intent was to promote a certain platform of policies. It was intended to persuade the layman - not as a serious objective analysis.
In many cases in his chapter on trade, Hazlitt uses oversimplifications, or just simple assertions, that are just not objectively supportable, even if they might be rhetorically persuasive. The chapter on trade is the worst by far.
He was a journalist writing for the general public, to push a political agenda.
You Trolls are sociopaths.
"The researchers found that trolls scored highly on a number of personality traits examined: Machiavellianism, psychopathy, narcissism, extraversion, disagreeableness and sadism. "
It's science.
psychcentral.com
Yes you do......
Nothing worse than a thread trolling liar.,....What do you get out of your anti-Rush comments anyway, a hard on? Then what?........LOL!
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