Congress Exporting More Economic Ignorance
Posted: March 28, 2013 Filed under: Balance of Payments, Free Trade, Uncategorized Leave a comment »http://cafehayek.com/2013/03/congress-exporting-more-economic-ignorance.html
Someone Please Tell Me Again Why Politicians Should be Treated Respectfully
Posted: July 14, 2012 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Someone Please Tell Me Again Why Politicians Should be Treated Respectfully
Quotation of the Day…
Posted: June 29, 2012 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Quotation of the Day…
Bhagwati dishes:
Posted: April 6, 2012 Filed under: Free Trade, Health Care, Obama, Uncategorized Leave a comment »Sent to you via Google Reader
Bhagwati dishes:
Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels — by Hui Tong, Shang-Jin Wei
Posted: December 5, 2011 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels — by Hui Tong, Shang-Jin Wei
The Economics of Halloween Candy
Posted: November 2, 2011 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
The Economics of Halloween Candy
Open Letter to Mitt Romney
Posted: August 17, 2011 Filed under: Division of Labor, Free Trade Leave a comment »http://cafehayek.com/2011/08/open-letter-to-mitt-romney.html
The Fruits of Free Trade
Posted: August 4, 2011 Filed under: Free Trade, Protectionism Leave a comment »http://dallasfed.org/fed/annual/2002/ar02.pdf
Trade Policy Making in a Model of Legislative Bargaining — by Levent Celik, Bilgehan Karabay, John McLaren
Posted: August 1, 2011 Filed under: Free Trade, Protectionism, Uncategorized Leave a comment »Sent to you via Google Reader
Trade Policy Making in a Model of Legislative Bargaining — by Levent Celik, Bilgehan Karabay, John McLaren
In democracies, trade policy is the result of interactions among many agents with different agendas. In accordance with this observation, we construct a dynamic model of legislative trade policy-making in the realm of distributive politics. An economy consists of different sectors, each of which is concentrated in one or more electoral districts. Each district is represented by a legislator in the Congress. Legislative process is modeled as a multilateral sequential bargaining game a la Baron and Ferejohn (1989). Some surprising results emerge: bargaining can be welfare-worsening for all participants; legislators may vote for bills that make their constituents worse off; identical industries will receive very different levels of tariff. The results pose a challenge to empirical work, since equilibrium trade policy is a function not only of economic fundamentals but also of political variables at the time of congressional negotiations – some of them random realizations of mixed bargaining strategies.
Daniel J. SmithSent via mobile phone
Assistant Professor of Economics
Manuel H. Johnson Center for Political Economy
Troy University
Email: smith.dan.j
Website: http://www.danieljosephsmith.com
The Land that Lean Manufacturing Forgot? Management Practices in Transition Countries
Posted: July 25, 2011 Filed under: Economic Freedom, Economic Growth, Free Trade, Globalization Leave a comment »http://organizationsandmarkets.com/2011/07/25/another-benefit-of-globalization/
My Debate with Ian Fletcher, Part Trois
Posted: July 20, 2011 Filed under: Free Trade, Ian Fletcher, Uncategorized Leave a comment »Sent to you via Google Reader
My Debate with Ian Fletcher, Part Trois
Humans: Why They Triumphed
Posted: July 12, 2011 Filed under: Division of Labor, Economic Freedom, Economic Growth, Free Trade, Prosperity Leave a comment »http://online.wsj.com/article/SB10001424052748703691804575254533386933138.html
Bhagwati on the Morality of Free Trade
Posted: June 27, 2011 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Bhagwati on the Morality of Free Trade
Munger on Exchange, Exploitation and Euvoluntary Transactions
Posted: June 21, 2011 Filed under: Exploitation, Free Trade Leave a comment »http://www.econtalk.org/archives/_featuring/mike_munger/
Trade is Trade
Posted: March 12, 2011 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Trade is Trade
My Continuing Conversation With Ian Fletcher
Posted: March 12, 2011 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
My Continuing Conversation With Ian Fletcher
Reinhardt on Trade
Posted: February 19, 2011 Filed under: Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Reinhardt on Trade
Princeton economist Uwe Reinhardt has some observations about free trade, picking up where I left off in my recent
Food, Famine, and Globalization
Posted: February 17, 2011 Filed under: Free Trade, Globalization, Poverty, Prosperity, Uncategorized Leave a comment »Sent to you via Google Reader
Food, Famine, and Globalization
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Leland B. Yeager, Free Trade: America’s Opportunity
Posted: January 27, 2011 Filed under: Free Trade, Protectionism Leave a comment »http://oll.libertyfund.org/index.php?option=com_staticxt&staticfile=show.php%3Ftitle=2038
If We Win the Future, Who Loses?
Posted: January 26, 2011 Filed under: Free Trade, Stimulus Leave a comment »http://blogs.forbes.com/artcarden/2011/01/26/if-we-win-the-future-who-loses/
Latin America Needs Free Trade & Drug Legalization
Posted: January 7, 2011 Filed under: Drugs, Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Latin America Needs Free Trade & Drug Legalization
Trade is Good
Posted: January 6, 2011 Filed under: Free Trade, Manufacturing Leave a comment »http://mungowitzend.blogspot.com/2011/01/trade-is-good.html
Trade and Globalization
Posted: December 19, 2010 Filed under: Free Trade, Globalization, Uncategorized Leave a comment »Sent to you via Google Reader
Trade and Globalization
Deirdre McCloskey interviewed
Posted: December 4, 2010 Filed under: Capitalism, Economic Freedom, Economic Growth, Free Trade Leave a comment »http://econlog.econlib.org/archives/2010/12/farmers_forager.html
“You can measure the shifting significance of bourgeois words: honesty, profit, responsibility, monopoly, etc., by looking in historical dictionaries and historical texts in all the languages of commerce, from 1600 to 1848. “Responsibility,” for example, is entirely modern (and thus measurable: It’s zero before 1800, commonplace afterward). The equivalent word before 1800, as one can see from the Oxford Thesaurus (based on the Oxford English Dictionary), is “duty.” In a hierarchical society, one has one’s duty to one’s master, period. In a modern and bourgeois society, the duty is turned inward and becomes a character trait essential for a modern enterprise: responsibility.”
An Open Letter to Sen. Sherrod Brown
Posted: October 4, 2010 Filed under: Free Trade, Protectionism Leave a comment »http://cafehayek.com/2010/09/an-open-letter-to-sen-sherrod-brown.html
Only trade-fuelled growth can help the world’s poor
Posted: September 21, 2010 Filed under: Development Economics, Economic Growth, Foreign Aid, Free Trade, Uncategorized Leave a comment »Sent to you via Google Reader
Only trade-fuelled growth can help the world’s poor
Johan Norberg : Globalisation is Good (Part 1/4)
Posted: August 31, 2010 Filed under: Free Trade, Globalization Leave a comment »http://www.youtube.com/watch?v=pp7g9mT8s7Y
DECENTRALIZED TRADE MITIGATES THE LEMONS PROBLEM
Posted: May 22, 2010 Filed under: Free Trade, Uncategorized Leave a comment »In markets with adverse selection, only low-quality units trade in the competitive equilibrium when the average quality of the good held by sellers is low. We show that under decentralized trade, however, both high- and low-quality units trade, although with delay. Moreover, when frictions are small, the surplus realized is greater than the (static) competitive surplus. Thus, decentralized trade mitigates the lemons problem. Remarkably, payoffs are competitive as frictions vanish, even though both high- and low-quality units continue to trade, and there is trade at several prices.
http://www3.interscience.wiley.com/journal/123445600/abstract#fn8
BIGGER IS BETTER: MARKET SIZE, DEMAND ELASTICITY, AND INNOVATION
Posted: May 22, 2010 Filed under: Free Trade, Population, Protectionism, Uncategorized Leave a comment »http://www3.interscience.wiley.com/journal/123445607/abstract
This article proposes a novel mechanism whereby larger markets increase competition and facilitate process innovation. Larger markets, in the sense of more people or more open trade, support a larger variety of goods, resulting in a more crowded product space. This raises the price elasticity of demand and lowers markups. Firms, therefore, become larger to break even. This facilitates process innovation, as larger firms can amortize R&D costs over more goods. We demonstrate this mechanism in a standard model of process and product innovation. In doing so, we question some important results in the new trade and endogenous growth literatures.
