Topic: Trade
Quotes
F.A. Hayek, Monetary Nationalism and International Stability (1937)
- Without stability of exchange rates it is vain to hope for any reduction of trade barriers.#
F.A. Hayek, Individualism and Economic Order (1949)
- in order that a particular industry should benefit from a tariff, it is necessary that the tariff on its products should be higher than the tariffs on the commodities which the producers in that industry consume.#
Posts
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Nationalism Is Weird
There are two basic moral frameworks people can adopt when thinking about how to treat others: localist and globalist. The basic difference is the size of the moral community. Localism is the default human morality. Human sociality is adapted for life in a close-knit moral community. There's an in-group whom we . . .
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You Have No Business Caring about the Supply Chain
Exhibit 1: In order to stop funds from going to African “murderous militias”, Congress passed a law requiring U.S. companies to make sure they don’t buy minerals from mines controlled by them. Instead of choking their funds, the law so impoverished the miners that they have no choice but to . . .