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Julian Sanchez @normative
, 3 tweets, 1 min read Read on Twitter
(A) Tariffs are a trivial factor in why the French don’t drink more US wine. (B) The whole point of trade is this wacky thing called “comparative advantage.” They SHOULDN’T be drinking more US wine, any more than we should be buying more French cars.
If you think that “fair” trade means two countries sending each other the same products in roughly equal quantities, then you have fundamentally failed to grasp the point of trade.
New York buys many potatoes from Idaho! Yet Idaho buys few potatoes from New York! Very unfair!
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