Technological advance often thrives in sheltered and subsidized markets, which defy free trade.

Technological advance often thrives in sheltered and subsidized markets, which defy free trade.

Not surprisingly, extensive effort in Britain and America goes into finding tax shelter. the system is "efficient" for the shelter industry, not for the economy.

We are already well down the road toward a managed-trade regime. It would be far better to acknowledge that reality, and seek a set of reasonable rules, than to pretend that Ricardian trade is the norm and allow mercantilist states to overwhelm U.S. industry and ratchet down wages, in the name of free trade.

Henry Ford, in a sense, was the first Keynesian. He paid his assembly workers high wages so they could afford to buy his cars.

If Boeing got a big head start on the 707 from multibillion-dollar military contracts to develop an air force transport, is that a sin against free trade?

Technological change is beneficial only when other jobs replace the ones lost.