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...

Overproduction and stewardship

Overproduction, simply put, is supply in excess of demand. It is the production of more goods and services than those in the market would like to purchase. Overproduction, in a well functioning market economy, should be temporary.  Continue Reading...

Capitalism, cronyism, and socialism

“Having a heart for the poor isn’t hard. Having a mind for the poor…that’s the challenge.” –Poverty, Inc. This quote from the documentary Poverty, Inc. highlights the reason why so many people are willing to give their money to foreign aid, without necessarily understanding its harmful effects.  Continue Reading...