All Posts Tagged With: "foreign trade"

Globalization: Extending the Market and Human Well-Being

Much of the prosperity of today’s world arises from the division of labor. Globalization, by extending the market’s scope to the entire world, enables the division of labor to become as developed as the current world population allows. However, to be truly in the interests of consumers and a boon to economic prosperity, globalization needs to occur spontaneously through the workings of the unhampered free market. Government attempts to meddle with this process—even with the sincere intent to facilitate or accelerate it—will only undermine its efficacy at benefiting us all.

1Apr2009 | Gennady Stolyarov II | 0 comments | Continued

Dry-Cleaning Economics in One Lesson

Another day, another news story about economic wackiness. Gas prices rise, the dollar sinks, and stores are limiting rice sales. What could be next? Clothes hangers.
Yes, clothes hangers. Marie Sledge, co-owner of Rome (Georgia) Cleaners, states, “Hangers last year at this time were $28 a box, where now they are $56.” News reports indicate that [...]

1Sep2008 | E. Frank Stephenson | 0 comments | Continued

Adam Smith in China

James Dorn is a China specialist at the Cato Institute and professor of economics at Towson University in Maryland. A shorter version of this article first appeared in the Times of India, January 24, 2007.
China’s transition from plan to market since 1978 has not only increased prosperity but also has led to a new way [...]

1May2007 | James Dorn | 1 comment | Continued

Buying Foreign Goods Saves American Jobs

Roger Simmermaker of Orlando, Florida, is leading a national campaign to encourage Americans to “Buy American.” In 1996 Simmermaker wrote How Americans Can Buy American, which recently was published in a second edition.1 The book, as its title implies, provides guidance on how to identify and buy American products in today’s integrated global marketplace. Simmermaker [...]

1Jun2004 | Robert Carreira | 0 comments | Continued