I wonder if Messrs. Schumer and McDermott regard Xerox, IBM, Apple, Dell, and Hewlett-Packard to have been "unfair" traders. By making copiers, personal computers, and desktop printers so incredibly inexpensive, these firms destroyed countless jobs for office-pool typists. An American worker simply cannot compete with these machines. Would we have been well served had government restricted our ability to purchase these machines? If not, why suppose that we will be well served if government restricts our ability to purchase goods and services produced by workers whose wages are now lower than ours?Hmmmm!
Friday, March 23, 2007
"Fair" Trade Agreements
I just loved this little post about "fair" trade agreements by Don Boudreaux posted at Cafe Hayek, in which he responds to a letter writen by Sen. Chuck Schumer and Rep. Jim McDermott: