Thursday, October 8, 2015

Calling George Santayana, Or Why Didn't Bernie Sanders Take an Econ Course from Milton Friedman?


Bernie Sanders and Mrs. Clinton's opposition to free trade is, I suppose, proof that George Santayana's maxim that those who cannot remember the past are condemned to repeat it. Who knows what Mrs. Clinton really thinks, but it is distressing that Bernie Sanders, a graduate of the University of Chicago, home of Milton Friedman, believes the poppycock that he, Bernie Sanders, does on free trade. Even a cursory study of trade barriers, like Smoot Hawley, shows how dangerous and expensive they are.

It seems like we are in a race to the bottom this election. The Republicans, led by Trump are outbidding themselves to build a wall, and the Democrats are outbidding themselves to commit economic suicide. 


No comments:

Post a Comment