Source: The Daily Economy
by Scott Burns
“Nearly 175 years later, Bastiat’s cautionary tale provides a window into the fallacy that lies at the heart of today’s trade war: the myth that destruction creates wealth – that breaking trade deals and global supply chains, like breaking windows, is a secret recipe for prosperity. Like the mayor in Bastiat’s tale, President Trump is a slick politician and a masterful spin artist. He’s exceptional at portraying his policy’s ‘success’ by focusing our attention squarely on its visible beneficiaries. That’s why he often unveils his latest tariffs in made-for-TV spectacles where he’s encircled by jubilant workers at revived factories that directly benefit from his protectionist policies. Thankfully, Bastiat’s parable exposes this clever marketing ploy for what it is: cheap sophistry.” (12/15/250
https://thedailyeconomy.org/article/trumps-broken-windows-economy/