Trade

Trade

Research

Holly A. Bell, Harrison Searles | Apr 24, 2014
Recent market events like the “flash crash” of 2010, algorithmic failures at Knight Capital, and the release of Michael Lewis’s book Flash Boys (2014)—with his claims that markets are “rigged”—have heightened scrutiny of high-frequency trading (HFT) and increased demands for more aggressive regulation. However, HFT has several empirically demonstrated benefits, and the current, largely qualitative arguments against it call for careful scrutiny of proposed regulations.
Donald J. Boudreaux | Oct 07, 2011
In this journal article published by Economic Affairs, Don Boudreaux examines whether protectionism is justified if foreign governments are subsidizing export industries.
John Nye | Jun 21, 2011
This essay uses the Philippines as a case study to suggest what is wrong with leading development prescriptions.
Jack Goldstone | Dec 14, 2010
The question of what separated Europe from the rest of the world in the 19th century remains a puzzle, and will remain so if we focus on material factors, or on broad ideological trends. We need to focus on particular elements of modernity unique to Europe, and search for their intellectual origins.
Noel D. Johnson, John Nye, Raphael Franck | Jul 06, 2010
This paper uses data on the wine market in France at the turn of the twentieth century to argue that excise taxes collected on quantity can also be protectionist. High internal tax rates generated…
Jutta Tobias, Karol Boudreaux | Jun 2009
Entrepreneurship is widely acknowledged as a catalyst for poverty reduction and economic development. This paper presents evidence from a field survey conducted during the summer of 2008 among a…

Research Summaries & Toolkits

Expert Commentary

By Bob Ewing |
May 04, 2016

The Mercatus Center at George Mason University is pleased to welcome Daniel Griswold as a Senior Research Fellow and co-director of a new Program on the American Economy and Globalization.
Apr 26, 2016

Even if we grant that Beijing subsidizes Chinese steel unfairly, there are no grounds for Uncle Sam to respond by protecting American producers at the expense of American consumers.
Jul 25, 2013

Reports of renewed growth in China have sparked questions about the impact on the United States of a healthier Chinese economy. Specifically, if China does better, do we in the U.S. do worse? I don’t think so.
Jul 09, 2013

Uncle Sam is negotiating a free-trade agreement with several European countries and another with various Pacific Rim countries. Such agreements deserve applause because they generally make trade freer — and, hence, make the people in countries party to these agreements richer. This applause, however, should be muted.
May 01, 2012

The U.S.-China relationship will be the most important bilateral relationship in world politics for some time to come. It is thus imperative that relations with China's new leaders start out in a way that offers something positive for both sides. "Getting tough" with China may sound like good politics, but it is bad policy.
Apr 13, 2012

Ex-Im subsidies are small in the grander scheme of corporate welfare, but it is one piece of the puzzle that Congress can do something about now. It should abolish the Ex-Im Bank.

Charts

The Ex-Im Bank’s facade of boosting exports and creating jobs is not well supported by its own data. The actual effect of the bank’s activity is the creation of perverse incentives, moral hazards, and inefficient outcomes that has become a fund for corporate welfare. It is worth questioning whether the United States, with mounting debt problems and the possible expiration of the Ex-Im Bank’s reauthorization, needs yet another agency to subsidize companies with taxpayers picking up the tab.

Experts

Podcasts

Donald J. Boudreaux | May 24, 2016
Donald Boudreaux talks about the economic effect of building walls between countries.

Recent Events

This course will examine the impact of property law and governance practices on human rights and economic development in sub-Saharan Africa, and key legal issues that should be considered when…

Books

Russell Roberts | Jul 28, 2008
Stanford University student and Cuban American tennis prodigy Ramon Fernandez is outraged when a nearby mega-store hikes its prices the night of an earthquake. He crosses paths with provost and…

Media Clippings

Donald J. Boudreaux | Jul 16, 2013
Don Boudreaux hits one out of the park here. It’s one of those arguments that you or I haven’t come up with ourselves but which make immediate sense once explained. Don’s point, the one he wants to highlight, is that in a world of homogenous labour then perhaps that inimum wage isn’t quite so bad.
Tyler Cowen | Apr 21, 2012
Ty;er Cowen is quoted extensively in this NPR article on the U.S. export boom.
Veronique de Rugy | Mar 13, 2012
Veronique de Rugy explains why she's glad she left France twelve years ago.
Veronique de Rugy | Mar 08, 2012
Veronique de Rugy explains why the Export-Import Bank is a corporatist agency and funding it is bad policy.
Donald J. Boudreaux | Oct 13, 2011
The U.S. government should not respond to China's allegedly undervalued renminbi by raising taxes on Americans who buy imports. The lower the value of the renminbi the wealthier it makes Americans. Ultimately, the goal of trade is to import goods and services. Exports are a cost; they're the price paid for imports. By keeping the value of its currency low, Beijing enables Americans to stretch our dollars farther. This results in significant improvements in living standards.
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