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.
Proudly delegitimizing the state since 2005
"Aye, free! Free as a tethered ass!" —W.S. Gilbert
"All the affairs of men should be managed by individuals or voluntary associations, and . . . the State should be abolished." —Benjamin Tucker
"You must first enable the government to control the governed; and in the next place oblige it to control itself." —James Madison
"Fat chance." —Sheldon Richman
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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