There is no such thing as free enforcement of trade policies on unwilling partners. industry to counter the next global food crisisĪll along, those involved in these matters had to know that American consumers would be picking up the tab for the higher priced Chinese goods. To counter abortion ruling, shift from recriminations toward development No doubt plenty of investors had legitimate gripes, but the tariffs’ real costs were consistently downplayed by the administration. The purpose, one could argue, was to provide “free” trade protection to corporate investors who were complaining about China’s abusive actions. During the Trump administration, animosity toward China regarding respect for intellectual property rights and other trade matters led to the imposition of tariffs on a large variety of Chinese goods imported by the United States. Of course, political promises that sound like free lunches come in many forms. No amount of planning and promising could negate Friedman’s rule, and the bill for the free lunch hits most of us each time we go shopping. But now, with all that extra cash circulating, every American is facing 8 percent or higher inflation, no matter what their income level.
Through a pageant of presidents from Obama to Trump to Biden and in face of economic difficulties, we the people have been promised and have received subsidies and checks from the federal government that entered our bank accounts as if by magic.Īt the same time, we were promised that only higher income individuals would face tax increases to help pay for the checks. That said, the free-lunch politics of most other issues are such that promises get our attention and, when placed in front of the people and our representatives, our approval. Today, we have an all-volunteer military. Eventually, of course, his message was received, and our laws were changed. It was not defense policy that motivated him as much as the cost imposed when individuals have no choice but to go off to war without being fully compensated. Unwavering in his support of the freedom to choose, Friedman once led a march during the Vietnam War with much younger men and women protesting the draft and calling for an all-volunteer army. Friedman, known for his wit and unwavering free market critique of public policy, was making a simple point: If society’s scarce resources are being used to prepare this proverbial lunch (even if it’s to orchestrate cleaner air or some other worthwhile goal), then we can be certain that some people, somewhere, are paying the bill, voluntarily or otherwise.