Daniel Griswold on Mercantalist Logic
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.