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Nations don’t trade with each other; Individuals do

September 20, 2010

“Starting with the fallacy that countries, not individuals, engage in international trade, it’s then much harder to realize that it’s individual American companies and consumers who are penalized, taxed and disadvantaged by trade protection. By understanding that only individuals ultimately trade, it’s then much easier to see that trade barriers typically protect a concentrated, small but well-organized group of inefficient domestic producers from more efficient foreign competition, while imposing huge and significant costs on other Americans – domestic companies that buy imported inputs and ultimately millions of U.S. consumers.”

— M. Perry.

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