The benefits of free global trade

Profile of Adam Smith, 18th century In a new piece written for Public Discourse, Research Director for Acton Institute, Samuel Gregg, revisited crucial points made by Adam Smith in his classic Inquiry into the Nature and Causes of the Wealth of Nations which argued for an embrace of international trade. Continue Reading...

The real reason the economy is ‘rigged’

shutterstock/cnnmoney Vox recently published an article claiming that Charles Koch is right and Bernie Sanders is wrong about how the economy is rigged. Both agree that there are laws that unfairly favor some financially over others. Continue Reading...

Protectionism leads to turmoil, strife, and disorder

Proponents of protectionism often ground their support in a quasi-nationalism; trade should be restricted for the benefit of the nation. Economically, the argument holds little weight. The benefits of more trade, like more and cheaper goods, outweigh the costs, like some temporary unemployment that results from the closing of a factory that couldn’t compete with foreign companies. Continue Reading...