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Showing posts with the label FreeTrade

Culture Shock Cuts Both Ways

There has been a lot of negative talk recently about immigrants and how they effect the United States. Stephen Green, writing for the Tech Central Station, has an article rebutting some of those negative comments and brings up other points often ignored in the discussions. He concludes, The New (Nuevo?) America won't be the one we're used to -- but neither was the old one, or even the America we knew just twenty years ago. Latin America will also continue to change, as we all become increasingly intertwined politically, economically, and culturally. In return for losing some control of a culture we never really controlled in the first place, we get to live with neighbors who, for the most part, are increasingly free and prosperous. For that, we can all be thankful, and maybe even a little less afraid.

Good News For Poor Countries

One of the main methods for poor countries to get out of poverty is through free trade. Especially trade dealing with agriculture, since this is one of the few areas developing countries can compete in. This is one of the main reasons why trade tariffs and trade subsidies should be eliminated. Not only are both economically bad for a country, but they hurt the poorests countries in the process. That is why it was disheartening to learn that President Bush, like all other presidents before him, continued such an unfair practice. But there is a positive side to all of this. It looks as though an agreement was reached between developing countries and developed countries, including the USA, EU and Japan. The agreement is to have the current subsidies phased out, and eventually, eliminated. Let's hope we keep moving in this direction in the future.

Ralph Nader Fans? Not Economists!

Thomas Sowell has a piece on the editorial of the Wall Street Journal completely bashing Ralph Nader as being completely out of the mainstream with regard to Economics, the article states, Some years ago, the distinguished international-trade economist Jagdish Bhagwati was visiting Cornell University, giving a lecture to graduate students during the day and debating Ralph Nader on free trade that evening. During his lecture, Prof. Bhagwati asked how many of the graduate students would be attending that evening's debate. Not one hand went up. Amazed, he asked why. The answer was that the economics students considered it to be a waste of time. The kind of silly stuff that Ralph Nader was saying had been refuted by economists ages ago. The net result was that the audience for the debate consisted of people largely illiterate in economics and they cheered for Mr. Nader. The article goes on to give basic fundamental economic principles that the public is ignorant about, and how those p...