Everyday Economics - Boudreaux on Trade and Prosperity

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  1. In modern world, comparative advantage boils down to price (labor cost). Isn't this "killing" the high cost labor?

    The video put two equally paid workers and their productivity in a barter situation. In true life, we pay with cash. he situation is much different - globalized and searching for low labor cost. This is practically moving wealth from one worker to a lower paid worker and eliminating the high cost of labor. Isn't it?

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    • What about issues of national security? Should the US buy security technology form countries that might withhold tech when needed?

      The US defense budget includes procurement of technologies that are not immediately required (e.g. submarine manufacturing) but are deemed important given the potential for future security risks. The US defense budget includes the manufacture of submarines that are not expected to be used, yet the potential need creates the requirement that specialized expertise and technologies be kept available for national security. To maintain availability submarines are contracted for domestically even when the needed tech could be acquired internationally. Is there a national defense argument for protectionism?

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      • How do property rights effect prosperity?

        I would like an extension of the initial focus on property rights and institutions - focused on the effects of efficient land titling measures. Possibly referencing Hernando deSoto's work. BLUF - I could use some help convincing others that enabling and facilitating private ownership and hence capital production far outweighs the effect of a central controlled government where property rights are subordinated to the state.

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        • 4 votes
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          • How is debt between countries enforced?

            I can't understand how debt between countries is enforced. For example we say that Canada is in X amount of deficit with another country but how can it ever be enforced without war?

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            • Why isn't oil price raising?

              Based on supply and demand idea, isn't oil price supposed to increase, due to falling price, and hence demand grow for oil?

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              • Does giving preference to minorities and women for SBA loans actually help minorities and women achieve equal economic status as men

                Does giving preference to minorities and women for SBA loans actually help minorities and women achieve equal economic status as men? Based on my own experience of trying to get a SBA loan and being asked if my wife could be the primary on the loan because of state policy in West Virginia and the WVSBA's policy of helping minorities and women but now white men.

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                • 4 votes
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                  • What is the ideal free trade agreement?

                    What should trade deals encompass? Should we just unilaterally declare free trade? Should trade deals encompass environmental standards? Should they encompass safety standards? IP, etc. What would the ideal free trade agreement be?

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                    • 3 votes
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                      • 3 votes
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                        • Is it possible to ever eliminate protectionism in a mixed economy like the United States?

                          Bastiat wrote eloquently about the ills of protectionism in 19th Century France, yet the same issues are still present in 21st Century America. Will protectionist efforts ever be fully rejected by the voting populace, or are we destined to forever repeat our mistakes?

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                          • Negative Consequences?

                            What are the possible negative consequences of free trade and what mitigating possibilities exist?

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                            • 3 votes
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                                  • At what point will foreign investors curtail investments in U.S. assets, namely U.S. Treasuries?

                                    When will foreign demand for U.S. assets wane? What would likely be the linch pin of this shift? Which countries are likely to cease soonest and why?

                                    3 votes
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                                    • Slave Labor in 3rd world nations

                                      Since many third world and developing countries rely heavily on what is essentially slave labor, how can we hold best limit the ability of this type of unfair labor practice without hurting the economies of those countries which allow this to occur by rebranding slavery as something else when it is still slavery?

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                                      • Why is the neoliberal (Friedman/Hayek, Chicago School) economic model such an abyssmal failure other than for the already very rich?

                                        The much-vaunted "trickle-down" economics of the Reagan-Thatcher era based on Friedman and Hayek's economic model seem to have spectacularly failed.
                                        According to respected sources such as Noam Chomsky and Naomi Klein, neoliberalism has ushered in a dramatic growth in inequality around the world.
                                        Why?
                                        What went wrong?

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                                          Everyday Economics - Boudreaux on Trade and Prosperity

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