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Milton Friedman on free trade

Trade is one of the oldest topics in economics. It is also one of the oldest sources of economic dispute. Adam Smith wrote The Wealth of Nations in 1776 largely to refute the doctrines of the Mercantilists. The essential issues remain unchanged since Smith's time. Anyone looking at arguments in the centuries since will be struck by how contemporary they sound. For an example, look at this Newsweek column, written by the economist Milton Friedman in 1970. All you have to do is replace 'Japan' with 'China', and you have a sharp comment on current trade disputes. ...

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What trade means for Minnesotans

Recently, I had the pleasure of addressing a meeting in Mankato hosted by the Heritage Foundation on the subject of trade and its role in Minnesota's economy. I argued that, if our aim is to build an economy tilted towards investment, increased productivity, and higher high wages, we would be better off pursuing a policy of open trade....

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Some Timely Common Sense and Perspective from Brian Wesbury on U.S. Trade

I've always found Brian Wesbury of First Trust to be insightful and a particularly good communicator of sometimes difficult to understand economic issues.  Here's his new Thoughts on Trade.  You can sign up for his free economic commentaries and Wesbury 101 Video presentations here. When the report on international trade came out earlier this month, protectionists were up in arms. Through February, the US' merchandise (goods only, not services) trade deficit with the rest of the world was the largest for any two-month period on record. "Economic nationalists" from both sides of the political aisle, think this situation is unsustainable. Meanwhile, some...

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