Acton Institute Powerblog

Sew Efficient

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US News and World Report has a little feature on a drapery company that has expanded into more distant markets and thereby grown. The article identifies trade agreements and technology as paving the way for such expansion by many small, local businesses.

Decreasing tariffs and regulation and improving technology—these are examples of what economists call “lowering transaction costs,” which improves efficiency and benefits producers and consumers alike.

The US News article highlights an American business, but, even more crucially, opening international markets also helps producers in the developing world.

Kevin Schmiesing Kevin Schmiesing, Ph.D., is a research fellow for the research department at the Acton Institute. He is a frequent writer on Catholic social thought and economics, is the author of American Catholic Intellectuals, 1895-1955 (Edwin Mellen Press, 2002) and is most recently the author of Within the Market Strife: American Catholic Economic Thought from Rerum Novarum to Vatican II (Lexington Books, 2004). Dr. Schmiesing holds a Ph.D. in American history from the University of Pennsylvania, and a B.A. in history from Franciscan University ofSteubenville. Author of Within the Market Strife and American Catholic Intellectuals, 1895—1955 (2002), he serves as Book Review Editor for the Journal of Markets & Morality. He is also executive director of CatholicHistory.net.

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