Elk County Forum

General Category => Politics => Topic started by: redcliffsw on February 24, 2016, 07:24:41 AM

Title: Economic Nonsense From Politicians . . .
Post by: redcliffsw on February 24, 2016, 07:24:41 AM
Gullible Americans

By the way, some of the political obfuscation about a foreign trade are lifted when we recognize that it is not really nations trading with one another. In other words, the U.S. Congress does not trade with the federal government of Mexico, England's or France's parliaments or Japan's Diet. It's individual Americans who, through private intermediaries, trade with Mexican Ford manufacturers, English clothing manufacturers, French wine producers and Japanese automakers.

Too many Americans believe in the possibility of a free lunch. Politicians exploit that gullibility. The unpleasant task of a good economist is to teach that fundamental principle: One cannot get something for nothing.
-Walter Williams

Read on:
https://www.lewrockwell.com/2016/02/walter-e-williams/economic-nonsense-politicians/