October 20

More Shots in the Trade War

China imposes a new tariff on nylon in a tit for tat trade war with the U.S.

Textbook References:

Page 8 “Principal 5: Trade Can Make Everyone Better Off”
Chapter 3 “Interdependence and the Gains from Trade”
Pages 183-185 “The Effects of a Tariff”
Pages 728-730 “Trade Policy”

---

Apr. 6

The Four Pillars of Sound Policy

Edward Glaeser worries that the “Washington Consensus” (fiscal restraint, the rule of law, free trade and privitazation) may be coming to an end.

Textbook References:

Pages7-8 “Principle 4: People Respond to Incentives”
Pages 8-10 “Principle 6: Markets Are Usually A Good Way To Organize Economic Activity”
Pages 10-12 “Principle 7: Governments Can Sometimes Improve Market Outcomes”
Chapter 3 “Interdependence and the Gains from Trade”
Pages 566-567 “Property Rights and Political Stability”
Pages 589-593 “Policy 3: Government Budget Deficits”

---

Mar. 11

Turning Away the Best and the Brightest

The stimulus bill contains a clause making it harder for U.S. firms to hire skilled immigrants.

Textbook References:

Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”

---

Mar. 4

Another Loss for Economic Freedom

The economic stimulus bill restricts the hiring of foreign workers.

Text References:

Page 8 “Principle 5: Trade Can Make Everyone Better Off”
Pages 8-10 “Principle 6: Markets Are Usually a Good Way to Organize Economic Activity”
Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”

---

Feb. 16

China Favors Free Trade, Even if U.S. Doesn’t

China promises to avoid protectionism, even though the U.S. stimulus bill includes protectionist policies.

Textbook References:

Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”
Pages 728-730 “Trade Policy”

---

Feb. 10

Tit for Tat

Canadian unions join the chorus for economic nationalism.

Textbook References:

Page 8 “Principle 5: Trade Can Make Everyone Better Off”
Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”
Pages 728-730 “Trade Policy”

 

Feb. 5

4. Malkiel on “Buy American”

Burton Malkiel argues that the stimulus package should not include protectionist provisions.

Textbook References:

Page 8 “Principle 5: Trade Can Make Everyone Better Off”
Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”
Pages 728-730 “Trade Policy”

---

Jan. 31

Smoot, Hawley and Pelosi

The proposed stimulus package contains a provision that would prevent infrastructure projects from using foreign steel.

Textbook References:

Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”
Pages 728-730 “Trade Policy”

---

Jan. 4

The Protectionist Threat

Mankiw warns against the possibility of protectionism in the stimulus package.

Textbook References:

Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”
Pages 728-730 “Trade Policy”

---

Feb. 2

Irwin on “Buy American”

Douglas Irwin advises against requiring infrastructure projects to use domestic steel and other inputs.

Textbook References:

Chapter 3 “Interdependence and the Gains from Trade”
Chapter 9 “Application: International Trade”
Pages 728-730 “Trade Policy”