Against the Tide

Customer Reviews

Second, Mr. Preston Enright above seems to oppose corporate subsidies and welfare. Well, Mr Enright, so do the most staunch defenders of free-trade and capitalism: libertarians. I would not so much call myself a Libertarian but, like yourself, am also ardently opposed to corporate welfare, as it places an unwarranted burden on taxpayers and forces them to involuntarily support a cause, whereas they should only support the firm with their purchases from that corporation. Corporate welfare is, indeed, a rotten policy enacted but liberals and conservatives alike that, just as other forms of subsidies and welfare, create an unhealthy and unwarranted dependency on Washington (or wherever the largesse may originate), artificially lower prices, discourages innovation and efficiency, and ultimately harms the taxpayer and the consumer. Preston Enright is correct that this type of 'free trade' (not free to the mass of those who should benefit: the consumer) is only beneficial to the management and executives. Although, I'm guessing by his scattered and fiery writing style that he would be opposed to the free market, welfare or no welfare.

Irwin's text provides an excellent overview of how economic thinking has over the years come to accept and promote free trade. Unfortunately, today's free trade debate is typically not framed by such informed discussion, but rather is shaped by the protectionist rantings of critics like Enright.

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