Posts tagged with: Laura Ingraham Show

Congress insults our intelligence when it tells us that Chinese currency games are to blame for our trade deficit with that country and unemployment in our own. Legislators might as well propose a fleet of men-o’-war to navigate the globe and collect all its gold: economics is not a zero-sum game.

An exchange on yesterday’s Laura Ingraham Show frames the debate nicely. The host asked Ted Cruz, the conservative Texan running for U.S. Senate, what he thought about the Chinese trade question. Said Cruz, “I think we need to be vigorous in dealing with China, but I think it’s a mistake to try to start a trade war with them.”

“The trade war is on, and we’re losing it,” Ingraham responded. “[China is] subverting the principles of free trade.”

We blockaded the ports of the Barbary pirates when they subverted the principles of free trade — is Ingraham looking for a similar response now? No, she wants weenier measures: just some punitive sanctions here and there to whip China back into shape (because those always work).

Conservatives who are looking through the Mercantilist spyglass have got to put it down, because it distorts economics in the same way Marxism does. Economic growth and expansion of the labor market don’t come by the redistribution of wealth; they come by allowing man to exercise his creative talents, to innovate, to produce.

Protectionists also tend to ignore the inverse relationship between the trade deficit and the inflow of capital to a country. We are a nation of entrepreneurs, and entrepreneurs require investment. All business requires investment. If it’s Chinese investment, then Chinese investors see long term value in the U.S. economy. Sorry I’m not sorry about that.

Our leaders do the country a disservice by proclaiming that unemployment is caused by a trade deficit, and that a build-up of retaliatory tariffs is the way to fix the trade deficit. And they do other countries a disservice also, because U.S. protectionism hurts our trade partners (or potential trade partners). Holding back U.S. economic progress by artificially retaining manufacturing jobs, for example, means that workers in China or Vietnam are denied employment opportunities. It’s mindless selfishness.

Blog author: rnothstine
posted by on Friday, August 29, 2008

Laura Ingraham, the popular talk radio host, will be in Grand Rapids for an event sponsored by the Acton Institute on September 17. Please make plans to join us for this exciting event. Currently there are still tickets available and you can purchase them online through the Acton Institute here.

The event will take place at the Amway Grand Plaza Hotel, where Ingraham will speak, followed by a question and answer session. Also, there will be a book signing of her newest book Power to the People, and a dessert reception.

Ingraham is a refreshing conservative voice with great intellectual depth. I have always enjoyed listening to her commentary. Here is an excerpt from Power to the People:

Too often we have believed that “freedom” means that we have no duties or responsibilities to others. That “anything goes” mentality may appear to be empowering, but it is not. Instead, it creates a sense of anarchy that makes most Americans very unhappy.

The Founding Fathers did not risk their lives, their fortunes and their sacred honor so we could become spoiled, pampered, narcissistic and focused solely on our own pleasure. An ordered society was the Founders’ goal — a place where we could live our lives in limitless possibility — but only if we fulfilled our obligations. They wanted us to have the liberty to tap into our creative powers, for our own good and for the good of our countrymen. This is the pathway to true happiness. But that society is only possible if we, the people, have a shared set of values, a common set of beliefs that bind us together. The Founders did not view liberty as a license, but as a sacred responsibility to be used for the good. They understood that liberty cannot be separated from virtue.