Tag Archives: global economy

David Davenport: Questions About Walls


President Trump loves walls—besides a border wall with Mexico, he wants to erect trade walls to protect American steel and aluminum with tariffs of 25 and 10 percent, respectively.

In his famous poem about walls, Robert Frost said, “Something there is that doesn’t love a wall,” adding that before he built one, “I’d ask to know what I was walling in or walling out, and to whom I was likely to give offence.” Those are good questions for Mr. Trump’s policy.

He wants to wall out foreign products that are cheaper than American products. But this will trouble not only nations that produce them, but also American consumers who like to save money.

There’s also a question of constitutionality, since the president’s power to do this is based on national security. And the biggest question:  will tariff walls even work in a global economy?

Many important questions about walls.

 

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Michael Medved: “Zero Sum Game” Distorts Thinking on Tax Cuts, Foreign Affairs

Opioid

As Congress debates immediate, substantial cuts in federal tax rates, liberal opponents invoke the discredited concept of a “zero sum game”—the idea that if one citizen gains, then another must lose, because they believe that one individual’s good fortune must always mean someone else’s misfortune.

This thinking ignores the way economic growth can benefit everyone; creation of wealth means more opportunities, not fewer, for everyone in the vicinity of the wealth creator.

Unfortunately, some conservative nationalists make similar mistakes regarding foreign affairs: believing that one nation’s progress, brings suffering for others. Instead, today’s global economy makes prosperity is contagious.

The United States has everything to gain from the economic advancement around the world: that means more markets for our producers, and more products for our consumers.

We should favor, not fear, the advancement of our neighbors down the block, as well as prosperity for peaceful nations on the other side of the world.

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