Phil Gramm and Donald J. Boudreaux write in The Wall Street Journal about the price of protectionism.
“Protectionism and industrial policy misallocate resources and reduce economic efficiency. When firms in a free market produce outputs that consumers won’t buy, the money entrepreneurs and investors lose is their own. When protectionists and industrial-policy planners make mistakes, they often mask them with more subsidies and tariffs—at taxpayers’ expense.”
Read the full article here.
