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Sunday, July 22, 2012

The Case Against “Made in the U.S.A.”

from Reason.com 


The Case Against “Made in the U.S.A.”:


...


But in thinking about trade deficits and the Smith quote, I’ve come away with a new appreciation of what the old Scotsman was saying. Concern about imports and exports really is ridiculous.

Exports and Imports


What is an export? What is an import? These words are defined in reference to political boundaries of only one kind: national boundaries. If there were no such boundaries, there would be no exports or imports. But political boundaries are just that. They are not economic boundaries. To the extent that they can, people go about their business as though those boundaries weren’t there.

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