The slogan “War breeds war. Peace breeds prosperity” has become a favorite idea of the anti-war faction on the right. Unlike their anti-war allies on the left, who favor protectionism, those like Congressman Ron Paul (R–TX) are rightly committed to economic freedom. Their mistake lies in thinking that commerce and …
With the World Trade Organization’s Doha Round of trade talks at a standstill, Australian Prime Minister Julia Gillard is taking action by giving poor nations “ongoing and absolute access to 100 per cent of [Australia’s] trade markets.” The United States should follow in Australia’s footsteps by removing all barriers to …
A recent New York Times online report suggested that Americans should quit buying products made by poor people—because when people in the United States buy coffee, sugar, t-shirts, or tomatoes, they are guilty of exploiting impoverished workers. The story quoted the executive director of a group called Art Works Projects: …
Some critics of free trade say that trade agreements just help the “rich” get richer while making the “poor” poorer, but in fact, free trade benefits everyone. Looking at data from The Heritage Foundation’s 2012 Index of Economic Freedom, Heritage’s Bryan Riley and Ambassador Terry Miller found that the benefits …
Free trade agreements (FTAs) have economically benefited nations the world over since their inception. Poverty rates in countries with low trade barriers are significantly lower, and data in The Heritage Foundation’s Index of Economic Freedom demonstrate that free trade also leads to higher incomes, more jobs, and greater equality. That’s …
The most recent reminder of the complex relationship dynamics between India and China was the first “Strategic Economic Dialogue” that took place last week. The diplomatic relationship between India and China has been less than warm in the last few years, with simmering border disputes and recent disagreements over China’s …
Today the U.S. Bureau of Economic Analysis announced that the trade deficit for July fell by $6.8 billion. Exports increased by $6.2 billion and imports decreased by $500 million. Historically, decreasing trade deficits are often a sign of economic weakness. When workers are unemployed, they have less money to spend. …
President Benigno Aquino of the Philippines arrived in Beijing today to commence a five-day state visit to China. The trip has been slated as a goodwill mission aimed at repairing strained relations and increasing economic ties between the two nations. President Aquino, leading a delegation of some 200 Philippine business …
America’s bleak jobs picture would be even worse if not for foreign direct investment (FDI) in the U.S. economy. FDI in U.S. factories and property offers firms a source of new technologies, capital, products, and organizational skills, and it fuels economic growth. Most importantly, FDI creates jobs. According to the …
