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  • Free Trade Increases Living Standards, Creates and “Spreads the Wealth” Better Than Government Can

    Michael Barone has an interesting piece today highlighting a recent article by George Mason University economist Tyler Cowen in The American Interest that explains how rising U.S. living standards across the board have “spread the wealth” far more efficiently than any statist program the Obama Administration can dream up.

    Cowen demonstrates how the greatly improved access that ordinary Americans have gained in the past 50 years to better clothing, food, consumer electronics, and medical care has reduced “the inequality of personal well-being.” He makes his case by reviewing the dropping prices and increasing availability of thousands of good and services.

    Left under-emphasized in the articles is the fact that these better prices and greater quantities would have been unimaginable without the tremendous gains in free and more open economies globally that accompanied the rising living standards. That is why free trade is one of the 10 indicators in the annual Heritage Foundation Index of Economic Freedom.

    Another recent Heritage study further undermines the statists’ case for more government intervention and spending by showing how, contrary to claims from the left of stagnating U.S. wages, real median household income actually increased from 1970 to 2008 by nearly 30 percent (notwithstanding the crushing growth in federal spending of 242 percent during that time period).

    Posted in International [slideshow_deploy]

    6 Responses to Free Trade Increases Living Standards, Creates and “Spreads the Wealth” Better Than Government Can

    1. Pingback: » Financial News Update – 01/03/11 NoisyRoom.net: The Progressive Hunter

    2. Pingback: Tweets that mention Free Trade Increases Living Standards, Creates and “Spreads the Wealth” Better Than Government Can | The Foundry: Conservative Policy News. -- Topsy.com

    3. Hugh Campbell, New Y says:

      An America Lost in Squanderville

      The United States’ trade gap is the proverbial “leak-in the-dike” with its de-simulative effect on our recovery. In November 2003, Warren Buffett in his Fortune, Squanderville versus Thriftville article recommended that America adopt a balanced trade model. The fact that advice advocating balance and sustainability, from a sage the caliber of Warren Buffett, could be virtually ignored for over seven years is unfathomable. Media coverage that China has kept it currency undervalued is a gross understatement, it has actually been keeping the U.S. dollar over-valued; which adversely affects all our trade with all our trading partners, not just trade with China. Until action is taken on Buffett’s or a similar balanced trade model, by the powers that be, America will continue to squander time, treasure and talent in pursuit of an illusionary recovery.

    4. Lloyd Scallan (New O says:

      Most of us realize Tyler Cowen's article is spot-on. The difference between that

      true philosophy and the Obama ideology is in Obama's world view is that the

      government must control it all. In one word, socialism, which is nothing more than communism without the guns and uniforms.

    5. Pingback: Free Trade Agreements to create wealth | The Conservarist

    6. Pingback: Tweets that mention Free Trade Increases Living Standards, Creates and “Spreads the Wealth” Better Than Government Can | The Foundry: Conservative Policy News. -- Topsy.com

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