The Ex-Im Bank grows out of the mercantilist belief that the wealth of nations is determined by a “favorable balance of trade.” Therefore the level of exports is crucial and government promotion is paramount. All balderdash, of course. In reality mercantilism functioned as a cover for polices that catered to special business interests at others’ expense. It’s time we got rid of the bank.The full TGIF: "Help for the Downtrodden Corporate Exporter" is here.
Friday, November 12, 2010
TGIF: Help for the Downtrodden Corporate Exporter
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1 comment:
Ex-Im defenders are inconsistent, that taxpayers rarely had to compensate a bad idea, and that other countries subsidize their exports.
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