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Wednesday, February 6, 2013
The Mercantilist Myth Continues
From today's Open Europe news summary:
EurActiv reports that free trade agreement talks between Canada and the EU have reached a deadlock due to EU opposition to raising Canada’s quotas of imported beef and pork and Canadian opposition to increasing imports of EU dairy products, eggs and poultry.EurActiv
Both Canada and the EU subscribe to the Mercantilist myth that a nation is harmed if it allows its citizens to purchase desired goods from producers beyond it borders than it sells to those same producers. It is obvious that both Canada and the EU are less concerned about the standard of living of ALL their citizens than about protecting the livelihoods of politically connected, inefficient industries. (If they were efficient, they would not need tariff protection.)
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It was stated, "Both Canada and the
ReplyDeleteEU subscribe to the Mercantilist myth
that a nation is harmed if it allows its
citizens to purchase desired goods
from producers beyond its borders
than it sells to those same producers.
It is obvious that both Canada
and the EU are less concerned
about the standard of living of
ALL their citizens than about
protecting the livelihoods of
politically connected, inefficient
industries. (If they were efficient,
they would not need tariff
protection.)”
Just as Marxist use the repetition
of lies, so do Free Marketers.
Sometimes the glitz of advertizing
a product based on price does not
divulge that the products are not
equivalent. The inferiority is
often deceptively hidden under the
banner of cheaper prices.
A good illustration is Chinese metal
tools. They are offered as mirror
substitutes for tools made in countries
with long tradition of tool making.
They are often sold under the same
names by the marketing companies.
Then comes the day of reckoning.
When used in critical situations
they fail.
Who is to warn of inferior quality
control? Appearances are deceptive
and often dangerous.
The same analogy applies to the
wholesomeness of food and efficacy
of drugs.
Who is to warn or inhibit the con artist?
A market solely based on price will not.