Saturday, June 28, 2008

Drew Carey on Free Trade

Drew Carey in another installment of his series at takes a swing at the U.S. protectionists' (Obama-types) fear mongering over NAFTA.

Something that's rarely understood by protectionist all over the world is that the biggest source of "job losses" is technology, not free trade agreements. The emergence of Digital Cameras have dented the guys who sell films. small-time Christmas/Vesak-card vendors are feeling the pinch because of SMS. Does this mean these technologies need to be banned, discouraged or taxed away at least until "everyone adjusts"? Protectionist usually don't say stuff like that.

In all economic activity, whether you buy this soap over that one, or go to KFC instead of McDonald's, you create winners and losers. Should you be fined for picking one over the other? Free Trade (or international trade) just allows you to do this across a political border. There's nothing special about international trade, that isn't also true about domestic trade, except for the fact that governments have introduced barriers. I agree with those who say, that the source of much of protectionist opposition to free trade comes from the fact that in international trade, the trading partner is a "foreigner".

If you haven't already, go See the video. It's drew carey! (I love that end bit)

Related Link :Tyler Cowen : This Global Show must go on

P.S : Now that the primaries are over, Obama is a "pro-growth, free-market guy". Heh.

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