pcr enters the tariff conversation; 

Free Trade was Ricardo’s Concocted Theory Used to dispossess the British Aristocracy

Paul Craig Roberts

In their book, Global Trade and Conflicting National Interests published in 2000 by The MIT Press, Ralph E. Gomory and William J. Baumol proved that the free trade theory with which economists today are still indoctrinated is false.  Economists have done their best not to notice that a part of their repertory is invalid.  A number of years ago I presented Gomory and Baumol’s analysis to libertarian economists at the Mises Institute.  They didn’t like it, but they couldn’t confute it.

Over the years I have called attention to the defective theory that economists hold close to their breasts, but it is unpleasant information that they don’t want to hear.  With Trump’s talk of tariffs, the invalid free trade theory is being used as a weapon against Trump.  Those on Wall Street who are  indoctrinated with free trade have been driving down the Dow with their panic.

As for Trump’s tariffs, at the present time it seems that often they are threats leveled at specific countries to get them to do what they should be doing or to get them to give their help to Trump’s agenda.  For example, the initial tariffs Trump announced against Mexico and Canada were withdrawn once the two countries agreed to police their borders with the US to help halt the flow of immigrant-invaders into America.  It remains to be seen whether a full blown tariff system is put in place........more........