Source: EconLog
by Pierre Lemieux
“The trade war between the United States and Canada — more exactly between the American government and the Canadian government(s) — helps illustrate the opposition between two regimes: free trade between individuals or private organizations, which creates mutual gains and favors peaceful relations; trade between governments or directed by them, that is, mercantilism, which generates conflicts and hatred. … Individuals and their private parties trade together with a smile on their faces. Governments intervene in trade and impose pain with a smile on their collective face, if we may use that analogy. ” (03/11/25)