Don't Be So Modest
10 July 2007
Editor, International Herald Tribune
Dear Editor:
You report that "U.S. politicians are planning new duties on exports from countries that use their currencies to put American companies at a disadvantage" ("U.S. lawmakers still not satisfied with pace of Yuan rise," July 9).
If the U.S. economy truly is best served by protecting the welfare of American companies, why do politicians worry only about the prices of foreign currencies? Why not prohibit ALL foreign trade? After all, by allowing some trade, Uncle Sam enables foreign producers to put some American companies "at a disadvantage." And why not also clamp down on advances in technology? Such advances very often harm some American companies.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Editor, International Herald Tribune
Dear Editor:
You report that "U.S. politicians are planning new duties on exports from countries that use their currencies to put American companies at a disadvantage" ("U.S. lawmakers still not satisfied with pace of Yuan rise," July 9).
If the U.S. economy truly is best served by protecting the welfare of American companies, why do politicians worry only about the prices of foreign currencies? Why not prohibit ALL foreign trade? After all, by allowing some trade, Uncle Sam enables foreign producers to put some American companies "at a disadvantage." And why not also clamp down on advances in technology? Such advances very often harm some American companies.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Saturday February 9, 2008 at 5:28pm