Based on the January 2017 Big Mac Index, we can get the most burger for our buck in Egypt. At the equivalent of $1.46, an Egyptian Big Mac is less than one-third the $5.06 U.S. price. On the other hand, a Big Mac…
When German farmers got a chicken tax to protect them from U.S. poultry imports in the 1960s, the results were unexpected.
We can see by looking at a single firm that makes waders in Montana that the Trans-Pacific Partnership combines Adam Smith with David Ricardo.
The consumer benefits from free trade with cheaper goods that most help low income households, more variety, and a GDP rise that boosts living standards.
With the TPP ready for the U.S. Congress’s debate on the free trade deal, we can remember NAFTA, comparative advantage and the fruits of free trade.
This week’s economic news summary includes disputes about Kobe Bryant and intellectual property, Puerto Rican and Super Bowl subsidies, and deficit worries.
Low skilled labor bears more of the cost of free trade than comparative advantage and traditional economics have indicated.