A timely read:
Related:
Economist Walter E. Block makes an important point:
Related:
Economist Walter E. Block makes an important point:
“In reality,
however, creating jobs alone does not make for a strong economy. What we really
want is to increase production. And to achieve that, we need to allocate labor
as efficiently as possible. One way to do that is to ensure that if other
countries can make certain goods more efficiently than we can, we trade with
them for these items, rather than manufacture them ourselves. The result is
cheaper goods, which is to our advantage.
But tariffs do
nothing to improve this efficient allocation of labor. They also do not
increase or decrease employment. They just shift jobs around, and almost always
in a manner that hurts the economy.”