Daniel Griswold on Mercantalist Logic
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Steve Verdon | Tuesday, July 25, 2006 |
I find the post rather humorous, but then again I’m an economics geek. If you are too lazy to read the post here is the short version:
- Mercantilist thinking holds that exports are good, imports are bad.
- Hence the loss of 5,000 Japanese cars on their way to Canada is nothing but a net benefit for global society.
- Conclusion: More goods need to be lost at sea.
Well, if you are Lou Dobbs you might come to that conclusion.
About the Author: Steve has a B.A. in Economics from the University of California, Los Angeles and attended graduate school at The George Washington University, leaving school shortly before staring work on his dissertation when his first child was born. He works in the energy industry and prior to that worked at the Bureau of Labor Statistics in the Division of Price Index and Number Research.
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Comments
steve; insulting lou dobbs weakens your opinion.
Posted by floyd | July 25, 2006 | 06:28 pm | Permalink
Lou Dobbs says things are are squarely protectionist/mercantilist. It isn't my fault that his veiws on the topic of international trade are stupid.
Posted by Steve Verdon | July 25, 2006 | 08:02 pm | Permalink
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