The Harmful Effects of Protectionism

What is the biggest economic problem that the U.S. is currently facing? Depends who you ask.  Some social justice warriors would tell you that capitalism is ruining our economy, yet many who have studied and understand economics would argue the opposite. Continue Reading...

The benefits of free global trade

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...

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...