{"id":36757,"date":"2018-11-08T01:00:57","date_gmt":"2018-11-08T06:00:57","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=36757"},"modified":"2018-10-18T10:18:06","modified_gmt":"2018-10-18T14:18:06","slug":"qotd-imports-and-exports","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2018\/11\/08\/qotd-imports-and-exports\/","title":{"rendered":"QotD: Imports and exports"},"content":{"rendered":"<blockquote><p>The benefit of trade is the import; the cost is the export.<\/p>\n<p>Politicians just don\u2019t seem to get this. President Obama\u2019s official statement on \u201cPromoting U.S. Jobs by Increasing Trade and Exports\u201d mentions exports more than 40 times; imports, not once. His Republican critics agree: Sen. Rob Portman says that a trade agreement \u201cis vital to increasing American exports.\u201d More colorfully, during the 1996 presidential campaign, Pat Buchanan stood at the port of Baltimore and said, \u201cThis harbor is Baltimore is one of the biggest and busiest in the nation. There needs to be more American goods going out.\u201d<\/p>\n<p>That\u2019s fundamentally mistaken. We don\u2019t want to send any more of our wealth overseas than we have to in order to acquire goods from overseas. If Saudi Arabia would give us oil for free, or if South Korea would give us televisions for free, Americans would be better off. The people and capital that used to produce televisions \u2013 or used to produce things that were traded for televisions \u2013 could then shift to producing other goods.<\/p>\n<p>David Boaz, <em>The Libertarian Mind: A manifesto for freedom<\/em>, 2015.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The benefit of trade is the import; the cost is the export. Politicians just don\u2019t seem to get this. President Obama\u2019s official statement on \u201cPromoting U.S. Jobs by Increasing Trade and Exports\u201d mentions exports more than 40 times; imports, not once. His Republican critics agree: Sen. Rob Portman says that a trade agreement \u201cis vital [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,10,53,41,13],"tags":[320],"class_list":["post-36757","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","category-politics","category-quotations","category-usa","tag-freetrade"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-9yR","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/36757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=36757"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/36757\/revisions"}],"predecessor-version":[{"id":36758,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/36757\/revisions\/36758"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=36757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=36757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=36757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}