THE DISCUSSION on free trade continues here, with comments from additional readers and a very lengthy response to his critics from Kristor, who concludes his argument with this:
From my point of view, protectionists are urging us to slap a big Ace bandage over an open gangrenous wound. The rot in our culture goes deep. In dealing with our fix, trade war should be the last weapon we use, not the first. The first thing we should do is eliminate the absurdities in our own system. Let the Chinese continue to fund the absurdities in theirs. Most likely, they’ll end up like the last unstoppable mercantilist Asian Tiger we used to be all worried about: Japan. Remember when Reagan and Thatcher were just rolling up their sleeves, and the common wisdom was that the Japanese were about to take over the world? Then Reagan and Thatcher tweaked a few things in a rational direction, and we took off – while Japan cratered.
Kristor’s comments appear below in full. Thank you to all of the readers who have taken the time to discuss this important subject so knowledgeably. Read More »