Wednesday, September 03, 2014
   
Text Size

Search our Site or Google

Protectionism: The Lesser of Evils

Articles & Blogs - International Commentary

User Rating: / 5
PoorBest 

Having just been subjected to more ivory-tower drivel on “the wonders of free trade”, I couldn’t stand it any longer. It’s time someone stepped forward to denounce this idiotic mythology.

As always, analysis begins with definition of terms. “Free trade” is the unfettered competition of businesses in free and open markets. It has never existed in all of history. “Globalization”, the bastardized proxy for free trade which has been foisted upon us by large, multinational corporations (and the political lackeys who serve them) doesn’t bear the faintest resemblance to genuine free trade.

With a nearly infinite list of flaws to choose from, let’s begin with an easy one. You can’t have fair-and-unfettered competition in markets if any of the participants are being subsidized by one or more governments. Thus the necessary precursor before any “free trade” agreement could ever be implemented is the complete elimination of corporate subsidies. Given that the multinational corporate parasites who spearheaded this process are the recipients of $trillions per year in corporate welfare (in one form or another) is it any surprise that this step was ‘forgotten’ as this pseudo-free trade was rammed through?

However even this criticism puts the proverbial cart before the horse. Free trade is all about companies competing with each other, not just across countries, but around the world. Unfortunately the corporate servants running our governments have allowed virtually the entire global economy to be hijacked by a few dozen (gigantic) monopolies and oligopolies.

As a matter of definition, none of these companies competes – ever. So here is a question for all of the vacuous free-trade zealots: how can (so-called) “free trade” bring competition to the global economy when (essentially) none of the components of this global economy ever compete?

In fact, we must back up still further to get to the crux of the matter. Once beginning economics students have been introduced to the fundamentals of supply and demand, and the virtues of competition, virtually the next principle presented to these students is how oligopolies and monopolies are unmitigated evils – which should never be allowed to exist in our economies.

What this means is that not only would we have to eliminate/abolish all forms of corporate welfare before any (valid) free-trade agreement could ever be established, but we must also take a political hammer, and smash into little pieces every one of the oligopolies and monopolies which currently pollute the global economy, while parasitically impoverishing each and every one of us.

It is only after all these corporate parasites have been smashed into little pieces that competition can (finally) be restored to our (individual) economies. And obviously it is only after we once again have competitive economies individually that it becomes theoretically possible to enjoy the benefits of free trade. Unless and until these corporate abominations are abolished, it could never be theoretically possible for genuine free trade to exist.

It is equally obvious that given their enormous political power (and the spineless nature of our present governments) that these corporate mega-parasites are not about to be eliminated overnight. As a practical matter then, what is the best means of coping with a global economy completely poisoned by the influence of these oligopolies and monopolies?

The obvious answer (the only answer) is protectionism. Cynically, knowing that these oligopolies and monopolies are our mortal enemies, the simple fact that they are pushing their pseudo-free trade with all of the (corrupt) influence they can muster tells us by itself that protectionism must be a lesser-of-evils. Looking at this issue from a theoretical perspective leads us to precisely the same conclusion.

Note that when the free-trade zealots gush about the infinite wonders of their cherished dogma that increased competition is only one aspect of this mythical economic utopia. By erasing borders, this allows corporations to expand in size, which (supposedly) brings us the economic advantage known as “economies of scale”. By this same logic, as our governments get larger and larger they should also get more efficient. Don’t hold your breath.

In fact, at some very finite limit, all benefits from creating economies of scale vanish beneath the inertia and bureaucracy inherent in any and every large institution. Instead of “bigger being better”, we rapidly reach the state of bloated behemoths – which are completely incapable of efficient competition.

Fortunately we have a near-infinite body of empirical evidence to substantiate this principle, supplied to us by the oligopolies and monopolies themselves. What do these corporate mega-parasites spend most of their time doing (when they’re not pushing their political servants into some new “free trade” deal)? Buying-up smaller more efficient corporations, because these corporate giants cannot match their quality, their prices, their service, or some combination of the three.

Protectionism means once again partitioning the global economy according to national boundaries. It automatically opens up new niches in all of these economies (presently being serviced by multinational oligopolies). Thus it also means creating a lot more of these smaller, more efficient, better corporations, while seriously reducing the power/influence/control of the oligopolies by making it much more difficult to dominate markets by brute force alone.

Referring again to basic economic theory, it is another maxim of business that smaller businesses tend to be more labour-intensive (i.e. they hire more workers) while larger corporations are more capital-intensive (i.e. they use far fewer workers).

Western economies are currently in the grip of the worst structural unemployment in history. Much of this structural unemployment is a direct consequence of (a) allowing the oligopolies and monopolies to exist, and (b) the illusory free-trade agreements they have been able to ram through. Surely even the free-trade zealots can comprehend that with the worst unemployment in our history that we would be better off with economies filled with companies which hire people rather than companies which buy machines (and lay-off people)?

In fact, our corporate overlords love to see this horrific unemployment. When there is suddenly ten people lining-up for every job rather than five, wages go down – as desperate workers under-cut each other. When there becomes twenty workers looking for each job rather than ten, wages fall further. At some point we cease to have “workers” at all, and only have serfs. Thus not only would protectionism ease unemployment, it would put upward pressure on everyone’s wages.

As I have noted frequently in past commentaries, in real dollars average wages for U.S. workers (and most of the Western world) have been falling steadily for the past 40 years. It is time the pendulum began to swing back.

[courtesy of http://nowandfutures.com/inflation_long_term.html#housing]

Ordinary readers must always be on guard for the dogma of zealots. Fortunately we are often warned that we are about to be exposed to more of such drivel because it is preceded by the phrase “economist says”.

For example, one would be hard-pressed to find an economist anywhere on the planet Earth who doesn’t regularly rant-and-rave about the evils of “big government”. Yet not one of these clueless hypocrites is ever seen bemoaning “big business”: a global economy filled with nothing but (grossly inefficient) oligopolies and monopolies.

Literally nothing could do more to make the world a better place than to start hacking these oligopolies and monopolies down to size. Protectionism won’t solve that problem – but it’s a good start.

Trackback(0)
Comments (3)Add Comment
Earl
...
written by Earl, March 01, 2012
Jeff,

I, think Brian said it all.
The BBC "community" has helped me heal the one in the mirror.
Plus, taught me what and how to defend.

Humble, I proceed on-

Thank You
Earl
Brian Boutilier
...
written by Brian Boutilier, March 01, 2012
So, when we as a people, beings, on earth have sufficiently integrated greed in favour of harmony and equity, these oligarc entities will disapprear. Until then, heal the one in the mirror, and be defensive with your money. My 2 pence sir. Nice article Jeff.

Write comment
You must be logged in to post a comment. Please register if you do not have an account yet.

busy

Latest Commentary

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12

Latest Comments

Disclaimer:

BullionBullsCanada.com is not a registered investment advisor - Stock information is for educational purposes ONLY. Bullion Bulls Canada does not make "buy" or "sell" recommendations for any company. Rather, we seek to find and identify Canadian companies who we see as having good growth potential. It is up to individual investors to do their own "due diligence" or to consult with their financial advisor - to determine whether any particular company is a suitable investment for themselves.

Login Form

how soon after taking metformin can i get pregnant cialis sublingual online meds tulasi for men in usa can buy fml forte online is it safe to buy cytotec online genuine zyprexa 100mg costco pharmacy paxil price buy lansoprazole capsules 30mg diovan dosage elderly entocort ec online hcg overseas pharmacy isotretinoin side effects statistics toradol online canada long time side effects viramune post cycle therapy supplements reviews testosterone generic pills for tricor discount professional viagra canadian hyzaar tablet liposafe mg order can you get high off of gabapentin 100mg levofloxacin hydrochloride tablets when should plavix be discontinued purchase meclizine 25 mg online artane usado como droga buy eulexin usa bupropion sertraline combination ashwagandha canada overnight delivery promethazine generic for can you buy promethazine online diabecon no prescription canada best deal on cialis canadian rogaine facial hair experiment zyprexa better than abilify can you buy xbox live codes online generic name for decadron viagra jelly medication online what is the dose of diamox for altitude sickness prednisone generic name mexico prescription purchase differin pamelor side effects migraines discount pharmacy gowrie cialis professional prices cvs viagra alternatives herbs abilify tablets for purchase topamax supplier in uk cozaar without rx tetracycline no prescription compare prices diclofenaco potassio 50 mg bula laxis no prescription buying medication online safe buy actos from canada canadian drug benefit plans betamethasone tablets dose is unisom available over the counter eli lilly cialis wiki atacand echeck augmentin in canada voltaren next day delivery buy ventolin inhaler canada where to buy cheap generic caverta minocycline comprare cardizem online bestellen amitriptyline tablets 10mg patient information apcalis sx cost without insurance cheap doxycycline 40 mg discount haridra cheap generic abili acivir pills in italia buy xalatan next day trimox side effects uk buy hyaluronic acid mexican pharmacies hydrocortisone side effects buy retin-a generic citalopram rx number neurontin no prescription compare prices ordering cipro here in canada requip price walmart ortho tri cyclen australia pharmacy nolvadex shortage how to use periactin side effects of stopping sarafem does cvs sell over the counter inhalers how to apply retin a gel diclofenac gel tablets online discount trial erection packs 2 mg buy mentat ds syrup usa where can i buy artane in canada moduretic online forum how to use furosemide prescription drugs without prescriptions illegal warfarin foods to avoid nhs no rx kytril online my colospa coupons how often can i get a depo medrol shot differin usage instructions buy torsemide overseas ovulation on clomid day 5-9 prazosin discount lamisil online canada pharmacy viagra side effects on women biaxin without prescription pills cheap premarin 1.25 mg order arimidex 1 mg legal buy viagra online usa missed 3 birth control pills ortho tri cyclen lo how much does zoloft cost in australia losec omeprazole lithium weight gain percentage best site get dostinex getting minocycline in australia hydrochlorothiazide over the counter equivalent buy mentat online cheap metformin over the counter india purchase lamisil on line in mexico commande viagra fiable how much does synthroid cost without insurance decadron sold over counter best depression medication for menopause dulcolax supplier in uk best site get serophene lasix from canadian pharmacy hydrea in croatia vasodilan phone orders venlor xr capsules uk college pharmacy open house deltasone dosage 10 mg female cialis lawsuit canada cost of bupropion hcl xl 300 mg lexapro generic cost walgreens vantin side effects long term use is antabuse legal in uk typical cipro dosage for uti medicine augmentin 625mg mirapex phone orders most reliable place to buy caverta online taking 2 allegra pills fluconazole dosage candida 100mg wellbutrin twice daily how long to take coumadin after pe side effects of levothroid medication pharmacy that sells hyzaar cytotec online store erythromycin benzoyl peroxide topical gel for acne cipla products list pdf buy etodolac online at canada pharmacy donde comprar alphagan nolvadex gyno reversal dosage zanaflex buy canada different asthma inhalers list zithromax alcohol side effects zebeta shortage 2012 how to get prednisone out of the system amatadine without a prescription levitra professional from china how much does advair diskus 500 50 cost can order beconase aq online buy reglan new zealand online buy cheap cialis professional buy orlistat online with mastercard alesse 21 online buy viagra professional delivery order betapace online uk effexor xr paypal how to buy beconase aq lasuna no prescription canada can you buy nolvadex in australia valtrex australia price what are the side effects of pravachol buy retin-a tretinoin cream reviews on epivir-hbv buy micardis online medrol dose pack alcohol effects evecare from europe donde comprar finasteride en espan~a is it safe to buy lexapro online aarp prior authorization form medicare buy promethazine codeine uk cheap genuine noroxin online the low alliance benefits viagra costa rica sin receta femara online overnight shipping celebrex online mexico tadapox without insurance viagra singapore alli diet pill reviews 2011 wellbutrin generic cost cheap cafergot 40 mg deltasone online store can you take silagra daily what is fucidin cream como comprar cialis generico cleocin ovules generic buy capoten no prescription sambazon acai smoothie coupons cialis vs levitra forum prednisolone 5 mg soluble tabs buying hydrochlorothiazide using paypal indian glucophage buy voltaren from mexico online malegra fxt in the uk now mentat ds syrup coupon code cheap diclofenac gel usa birth control pills lopressor cialis combo zoloft drug store online pomegranate juice natural viagra ordering fertomid here in canada misoprostol abortion alone coumadin 2mg tablet prilosec medication online hydroxyzine atarax side effects missed alesse pills drugs from canada online is levitra legal in uk research grade propranolol doxycycline hyclate 40 mg top 10 online zithromax sites crestor pill .ca what is nootropil made of european pharmacy schools cialis soft express canada buy prograf online cheap generic actoplus met 15 500 500mg canada medications predisone comprar bactroban original en madrid fertility calendar using clomid where purchase arimidex purchase astelin on line in usa haldol medication guide brafix legal in england dostinex india fosamax online legally how much does actos cost at walmart where to buy alligator gar meat canadian red pill blue pill decadron shortage over the counter drugs similar to ditropan wellbutrin sr dose strengths generic pilex us augmentin generic brand name buy trandate online with mastercard kamagra oral jelly lowest price to buy mentat in uk order tenormin online uk trandate australia cheap generic ventolin prilosec no prescription needed where to order alligator meat delivered prescription sleeping pills no hangover cialis once a day user reviews skelaxin high 800 mg what is minipress used for dulcolax generic 2013 drugs canada drugs aricept with prescription cialis tadalafil wirkung naproxen over the counter uk cheap kamagra next day delivery best place to buy prevacid in canada hydrochlorothiazide for sale online cefixime prescription bacterial infections 200mg levothyroxine and alcohol interaction zanaflex pills side effects metformin 500 mg price philippines suhagra price india cialis soft buy canada how to buy biaxin colchicine price without insurance what is micronase made of danazol visa deltasone buy without buy digoxin in india online actos sales in europe buspar suppositories buy uroxatral legal in england buy requip in usa levitra no prescription needed cheapest valtrex canadian online overnight pharmacy what is mobic medication for diovan with american express buy nizoral 5 zoloft buy online canada atacand plus rxlist generic lipitor good brand name bactrim dosage recommended buy zyvox online amazon voveran online store hydromorphone renal failure can allegra cause you to gain weight paroxetine no prescription canada vpxl fast usa pregnancy test calculator conception date mexican lasix amoxicillin 500mg dosage for sinus infection furosemide tablets 40 mg for dogs where can i buy clomid where tetracycline metabolized emsam now co uk lotensin generic names periactin for men sale in uk lisinopril over the counter name purchase amitriptyline on line in mexico xenical buy using paypal clomid shopping lithium in usa buy generic alphagan p buy accutane tablets canada yagara online forum mirapex for men sale in uk can you get a buzz from baclofen buy lipothin in india online differin echeck buy ginseng next day levitra 40 mg dose torsemide italiano is cialis super active available over the counter online cholestoplex purchase order premarin overnight buy minoxidil 10 percent side effects of accutane yahoo vacanze low cost cipro generic name for cafergot bupron online from canada buy cheap citalopram female viagra woldwide shipping parlodel tablet 5 mg acheter recharge mobicarte en ligne where can i get atacand pills is viagra prescription in australia generic cephalexin side effects how long does it take procardia to work for contractions how much will sinequan cost med cab tegretol how to order paxil online capoten results forum aldactone where can i buy it advair diskus online legally sambazon acai energy drink reviews bon jovi is like viagra for women can you mix doxycycline hyclate and alcohol best site to buy celebrex propecia uniteded uk propeci cheap triamterene online legally cost comparison pharmacy generic propecia depakote and alcohol interaction saw palmetto uses medication terramycin price india how much is voltaren gel cost buy prednisolone online with no prescription xenical shortage ephedraxin cialis professional for purchase without a prescription amitriptyline pain relief side effects ceftin alcohol buy pariet 20mg rabeprazole sodium safe to buy generic flomax from uk minipress discount where to buy levitra drugs online organic pharmacy generic benicar online adalat 10 mg sublinguale purchase famvir online non persciption prednisone benzac medication side effects lowest price coumadin tadacip weight gain zithromax medicine good is generic anastrozole as good as arimidex how to take amaryl mg how long does it take for olanzapine to start working buy 1 pharmacy adalat cod do i need a prescription for arava precio de redustat en costco azithromycin single dose chlamydia ephedraxin online pay paypal pilex reviews and dosage order lamisil from uk without prescription cheapest duetact tablets uk walgreens mail order pharmacy carefirst can you crush methotrexate tablets do i need a prescription for atorlip-10 obagi medical tretinoin cream 0.1 bayer 20 pink pill solu medrol comprar brand name viagra professional online antibiotics from canada online diclofenac 12.5 mg tablets low cost viagra no prescription chloromycetin eye ointment over counter crestor patent expiry uk canadian online pharmacy for kamagra oral jelly zyloprim for dogs buy overseas pharmacy no prescription leukeran isotretinoin online buy vermox generic plendil drug class glucotrol xl barato buy viagra soft 20 synthroid uses medication rosuvastatin website pill identifier drugs where to buy liv.52 in australia feldene 100mg cheap donde comprar disgrasil en bogota non prescription coreg can i get high on clonidine 5mg finasteride for sale malegra fxt dosage recommended side effects of the drug actonel epivir-hbv in the uk what does inr mean for coumadin pharmacies in canada viagra order triamterene online with visa what does lasix 40 mg look like nootropil tablets 800 mg western drug lotensin purchase bentyl on line in usa costco pharmacy eldepryl price prilosec otc acid reducer delayed-release tablets 42 count toradol for sale uk omifin precio colombia healthy weight for man 5;8 bystolic side effects long term use zoloft online buy topamax on line in the mexico donde comprar cialis generico best place buy lincocin pct is it legal to buy prescription drugs from mexico uroxatral online uk kamagra gold wanted online review nexium from canada prices com valtrex pct buy cheap generic ampicillin lowest urispas pharmacy order is there a shortage of accutane cheap generic betnovate post cycle therapy emsam lov cost olanzapine buy viagra vancouver home treatment for erectile dysfunction in young men naprosyn price india erythromycin stearate 500mg how to get alli pills omeprazole otc dose matrix red pill blue pill quote fast evista deleviery can you order flonase fluticasone pletal usa sale mevacor order by phone buy lisinopril without prescription canada pharmacy buy aldactone paypal accepted ethionamide usa cytotec on line in the usa buy exelon 100mg online viagra super active generic india buy benzaclin no prescription most common medication used for anxiety buy acticin with no rx clomid 50mg tablets side effects seroflo for dogs buy purchase accutane 20mg coupon generic cyklokapron buy canada suppliers of erythromycin in us can i order zyprexa no prescription in the usa buy amaryl pills in the canada cardura reviews for men what does the medicine bactrim do abilify australia price prescription online accutane without citalopram and wellbutrin combination long time side effects kamagra chewable easiest way to get pain pills alesse for purchase l-tryptophan pills olanzapine dose for bipolar cheap canadian prednisolone no prescription buy alphagan p online glaucoma buy mycelex-g tablets online buy medication online uk sarafem prices cvs best pain pills for back pain elocon order canada cheap himplasia buy online how much will generic plavix cost allegra d generic over the counter kamagra sales generic viagra super active 100mg buy decadron 40 is it illegal to order generic diclofenac gel methotrexate next day shipping buy pariet online uk no prescription lopid 600 mg tab zoloft medication dosage ditropan com au metformin for sale no prescription prinivil online in us viagra generic uk all orders all types femcare pills how to get pain pills from canada costo viagra slovenia metmorfin and pcos alli suppliers overseas pharmacy escrow hcg pregnyl triamcinolone injection uses buy vytorin astrailia luvox birth control online us buy generic levothyroxine prescription erection packs 1 usa pharmacy haldol generico italiano vendita viagra line italia what is actoplus met drugs inderal 10 mg tablet lasix water pill reviews avalide on line purchase levitra super active sale online pill clonidine medication information is generic dutas available in usa buy pravachol capsules where to buy tofranil in canada safely get wellbutrin las vegas buy silagra new zealand online discount prevacid solutab what doses does avapro come in nexium dosage recommended keflex visa how to get propecia prescription research grade tinidazole buy generic calan online no prescription retino-a cream 0,05 uses medication omifin what is metronidazole used to treat what is serevent used for how to buy ginseng guide yasmin brand order how to use ashwagandha leaves for weight loss what does nootropil propecia 1mg vs 2mg nexium sales where to buy astelin nasal spray azelastine how much does zyban cost in australia side effects of nature throid medication trazodone discount buy chloramphenicol from canada clonidine company oxytrol without script olanzapine for sale australia flovent 10 mg cost what do lexapro tablets look like avalide usa cvs prices lithium batteries free shipping how to get exelon in australia viagra sub lingual procardia side effects long term use what works better than ranitidine azithromycin zithromax 250 mg tablet antivert from usa pharmacy remeron lowest price mail order generic didronel pictures of strattera pills safe to buy generic femara from canada is generic avodart safe best viagra sites uk does costco have generic lipitor buy cheap viagra sublingual using pay pal list of online mexican pharmacies benicar legal in england cialis online american pharmacy acquistare zenegra in italia are there any fertility drugs over the counter allegra d prescription or over the counter kamagra oral jelly buy on line secure tabs online viagra 100mg generic epivir-hbv switzerland oxytrol online pay paypal brand name erexor online cialis super active buy uk what is keflex 250 mg used for florida lasuna cabgolin over counter uk what is rimadyl 25mg female viagra brand order cobra 120 long term side effects of avapro costo de provera en mexico canada drugs digoxin with prescription buy neurontin 5 viagra generica en andorra indian pharmacy minocycline buy diclofenac online no prescription us buy paxil 5 aspirin mask cheap calander levlen ed weight loss tinidazole without click here drugstore better than lopressor lanoxin supplier in uk diflucan pills side effects what is the dosage for dramamine cost of levitra in canada buy cheap topamax using pay pal amaryl for diabetes side effects best nerve pain meds revista online natura viagra para mujeres argentina low cost overnight requip med cab lamictal can you order cephalexin allopurinol chemotherapy prophylaxis valtrex online australia eat trihexyphenidyl hydrochloride 2mg clomid late menstrual cycle fast prazosin delivery best place to order nitrofurantoin in us best medicine for severe depression and anxiety what does cardizem do how much is doxycycline cost generic toradol strengths buy orthotri cyclen without a script lloyds pharmacy coventry road opening times carbozyne price order differin pill canadian pharmacy carafate ginseng cost without insurance imdb we need to talk about kevin Purchase celebrex 100 mg flonase nasal spray instructions aldactone 100 costo protonix tablets uk discount entocort endep overdose interaction between erythromycin and alcohol where to buy entocort ointment paxil 10mg reviews vytorin without prescription purchase rumalaya gel adrian discount drugs inc unisom generic equivalent cheap lisinopril 20mg online nitrofurantoin in italia side effects of celebrex capsules lisinopril wal-mart pharmacy suprax usage imitrex tablet sale retin-a ge order in the us long time side effects benfotiamine sinemet online overnight