These Days Before the Vote: “For cutting off our Trade with all parts of the world."
Whitewater, Wis. — Today’s entry this Tuesday evening continues These Days Before the Vote, a series addressing each day before the November election a principle or position on which the liberal democratic tradition rests.
Consider the Declaration’s charge against the British monarch “For cutting off our Trade with all parts of the world.” From the Declaration onward, there has been a soundly established economic basis for free trade, with a consensus in its favor for generations: Smith, An Inquiry into the Nature and Causes of the Wealth of Nations bk. IV, ch. II (1776) and Ricardo, On the Principles of Political Economy and Taxation ch. VII (1817).
Trump is worse than George III, who restricted trade knowing the harm it would do to the colonies. Trump instead acts ignorantly, believing against all evidence that less exchange at higher prices will somehow bring more prosperity and lower prices.
The economy of the most extraordinary commercial republic in history now rests under the bloated thumb of a second-generation real estate man.
We have made an adversary of a friendly nation to the north, become an unreliable friend to erstwhile allies beyond, and revealed ourselves to be feckless and vulnerable to the tyrannies of the world.