For more than 60 years, the US government has enforced a trade embargo against Cuba, ostensibly to force the communist government into collapse. The only thing that has collapsed, however, is the logic in the US policy.
For more than 60 years, the US government has enforced a trade embargo against Cuba, ostensibly to force the communist government into collapse. The only thing that has collapsed, however, is the logic in the US policy.
Once again, the Trump administration’s “dealmaking” on international trade has blown up, this time pulling the rug from under US soybean farmers. This isn’t the first trade policy fiasco, nor will it be the last.
Once again, the Trump administration’s “dealmaking” on international trade has blown up, this time pulling the rug from under US soybean farmers. This isn’t the first trade policy fiasco, nor will it be the last.
Bob explains Lerner’s Symmetry Theorem and shows how tariffs ripple through exchange rates, exports, and trade balances—then tests those predictions against today’s Trump-era tariff shocks.
While Murray Rothbard opposed the communist system, he also recognized that Cuba was no threat to the US militarily or economically. That is why he believed the US must recognize Cuba's government and permit trade and travel between the two countries.
No one opposed communism more than Murray Rothbard, but he also recognized that US policy toward Cuba was unjust, self-defeating, and would fail to accomplish the government’s stated goals of regime change.
We should stop using terms such as “trade surplus” or “trade deficit.” Trade is always a surplus and the only deficit comes from government interventions.
An enduring myth is that imports from industrialized western countries have decimated production of goods in developing countries. Economic history tells a much different story.
As tariffs force up business costs, analysts are claiming that businesses will have to “absorb costs” to stay in business. That is not a sustainable strategy, as businesses cannot survive under these high-cost circumstances.
