01/10/2017

The Problem With Trade Restrictions In One Chart

David R. Henderson, Foundation for Economic Education

Timothy Taylor, at the Conversable Economist, has an awesome graph and an excellent discussion of trade in the modern world.

We often picture some companies producing for export but using as inputs almost entirely domestically produced items. Wrong!

His post is titled "What If US Importers and Exporters are Largely the Same?" If you don't have time to read it, at least let this graph sink in.

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