In this episode of the weekly Budget & Tax News podcast, managing editor and research fellow Jesse Hathaway is joined by Mercatus Center senior research fellow Daniel Griswold, talking about why “globalization” is not a dirty word, despite what politicians may be telling people this year.
Why have prices fallen so low? Because government subsidies created a glut – and the market is flooded. This government money warps and distorts the marketplace – as otherwise productively-directed time and effort is instead spent chasing the government coin. Producers produce not what the marketplace needs – but for what the government pays.
More government means more expensive everything. Every second and penny spent paying government taxes and complying with government regulations – raises the prices of the goods and services people proffer.
Most of us on the center-right very much like free trade — for at least a couple of reasons. The freer trade is, the cheaper the things traded are. Which makes life easier for everyone in the nations engaged in said trade.
What is far and away the most important global trade commodity? Food. People have to eat. Before the world’s peoples can afford to purchase from us an iPhone, or a Ford pickup truck – they have to buy (hopefully our) food.
It’s Tax Day in America. Which brings to mind one of the late, great Ronald Reagan’s many great lines: “Republicans believe every day is the Fourth of July, but the Democrats believe every day is April 15.”
…Farming and agriculture have been around for tens of thousands of years. For the vast majority of that time, we grew stuff just fine without a Farm Bill (let alone an entire Cabinet-level Department).
TweetAs a committed believer in capitalism and economic liberty, the policy differences between presidential candidates Barack Obama and Mitt Romney are very stark. Regarding taxes, Romney supports broad tax reform[…]