April 21, 2016
By John Tamney
While it's frequently said that "all economists" agree on the good of free trade, the on-the-ground reality is quite a bit different. University of Maryland professor Peter Morici is but one of many members of the profession who is spooked by free exchange among individuals. To wade through his op-eds is to read someone who thinks China's exports to the U.S. explain just about every American ill. Even though importing (from across the street and around the world) is the singular purpose of our production, to Morici the imports that logically signal muscular production are the source of our economic decline. Somehow we'd all be better off in Morici's eyes if we produced in return for very little.
The professor seemingly would have felt right at home in the old Soviet Union, but since the latter is happily in the rear-view mirror Morici will have to settle for a place in any Donald Trump administration. Figure the Donald will have to hire at least a few credentialed advisors, and Morici is one who believes as Trump does that abundant imports from China are a sign of Americans "losing." The citizens of Haiti, Zimbabwe and Honduras would love to "lose" in the way that we Americans do, but this would mean surging trade "deficits" for all three that would earn them the pity of Trump and Morici. Not a bad deal, to say the least.
In a recent column meant to extol the virtues of Trump's economic policies, Morici wrote that "Men supporting Donald Trump have reason to be mad as hell. The economy has turned against them..." The "economy" that has turned against men would be hurt by Morici's criticism, except that it's not a living, breathing blob capable of caring. Contrary to Morici's suggestion that the "economy" is focused on hurting men, the reality is that an economy is just a collection of individuals. Broken down to the individual, it's easy to see just how confused Morici is.
Read the full article at RealClearMarkets.com: Trump's Policies Will Have Trumpkins 'Mad as Hell'