02/13/2018

Dave Chappelle Understands Free Trade Better Than Most Politicians

Allan Golombek, Foundation for Economic Education

Dave Chappelle is a great comedian. But he may be an even better economist. He certainly understands free trade a lot better than some of the people who are currently in charge of directing U.S. trade policy.

In a recent comedy routine, Chappelle provided a succinct explanation of why it makes more sense for the United States to import some goods from China rather than try to pursue a protectionist trade policy aimed at producing everything domestically.

Chappelle summarized President Trump’s position vis-à-vis China: “I’m gonna go to China, and I’m gonna get these jobs from China and bring ‘em back to America.” Chappelle then interrupted his Trump soliloquy, asking: “For what, so iPhones can be $9,000? Leave that job in China where it belongs … I wanna wear Nikes, I don’t wanna make those things. Stop trying to give us Chinese jobs.”

Chappelle’s words of wisdom should be inscribed on plaques to be placed on the wall in the White House, the office of the US Trade Representative, and the Department of Commerce — and the trade ministries of some other countries. The reason people buy imported goods is because they feel they are getting a better deal for their money than if the product was made domestically.

Would it make sense for us all to make our own footwear, assemble our own smartphones, grow our own food, and — for that matter — build our own homes? If we tried to do that, where would we get the time and energy to treat cancer, create new technologies and medications, or give Pilates lessons? If we had to make our own iPhones and Nikes, would we be able to afford to buy them? And what would we have to give up to be able to?

Read full article



You May Also Like:

The Democrat Answer To The Nunes Memo Is Here Susan Wright, RedState

Assessing The New Democratic Intel Memo Byron York, Washington Examiner

Mona Charen Slams Sexist Hypocrisy And Racism At CPAC; Calls invitation Of Le Pen A 'Disgrace' Alice B. Lloyd, The Weekly Standard

President Trump, Beware The Invisible Threat, Cheapening The Dollar And Killing The Bull Market Ralph Benko, Forbes.com

The Russians Colluded Massively — With Democrats Deroy Murdock, National Review

Tech Giants Are Less Powerful Than They Seem Holman W. Jenkins, Jr. , The Wall Street Journal

Cathy McMorris Rodgers: ‘We Are Going To Have To Defy History’ To Hold House GOP Majority Matthew Boyle, Breitbart

Net Neutrality Zealots Are Wrong — The Market Just Proved It Investor’s Business Daily

I Renewed My NRA Membership Because Attacks On 2nd Amendment Rights Never Stop There William A. Jacobson , Legal Insurrection

Progressive Totalitarians And Nativist Nationalists In Our Midst Richard Ebeling, Heartland Institute

Tariffs Won't Help Make America Great Again Robert Caskey, American Thinker

#UsToo: How Liberal Feminism Excludes Millions Of Women Kelsey Harkness, The Daily Signal

For More go to the Home Page >>>

Join Our Email List



section

Bookshelf

FreeMarket Central

Some titles recent, all recommended -

Special Video Feature

FreeMarket Central

Voices From The 2017 International Students For Liberty Conference

section

In Search Of History

The Reagan Tax Cuts Worked

Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

-- Daniel J. Mitchell,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.15%
    FreeMarket Central Shadow Stats: 21.8%
  • Inflation:
    FreeMarket Central January Year-to-Year: 2.11% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

section