Source: The Daily Economy
by Kevin Lavery
“Bastiat’s Petition of the Candlemakers lays bare the absurdity of protectionism. Offering preferential treatment to less efficient domestic producers artificially raises prices, restricts consumer choice, and decreases exports. Tariffs harm consumers, workers, and exporters while failing to accomplish their stated goals: they fail to meaningfully shift the balance of trade or promote domestic industry and employment, and more generally harm everyone involved, including protected industries. Given these realities, it is no surprise that a negative opinion of tariffs has been a virtual consensus among economists for centuries — just ask Adam Smith …” (06/30/26)
https://thedailyeconomy.org/article/bastiat-was-right-tariffs-make-the-world-poorer/