After reading R.C. Longworth`s article knocking free trade practices in the July 19 Perspective section of the Tribune, I must conclude that he is a teen-aged populist candidate for political office and frequently dines at Chinese restaurants. Why?
1. He`s a teenager because he believes that history is no guide to the
”sophisticated” world of today. He would have us to believe that classical economics (i.e. free trade) is hopelessly befuddled in today`s complex world. Not so. Today, due mainly to our adherence to free trade, we enjoy the world`s highest standard of living. If you don`t believe me, just visit Japan or Europe.
2. He`s a populist politician because he feels the knee-jerk urge to ”do stuff.” The world economy is a dynamic one, always in a state of flux. It was true back in the days of Smoot-Hawley, and it still is. The key to long- term economic well-being is in remembering how you got there. In our case, it`s been by adherence to free-trade practices.
3. He`s a diner at a Chinese restaurant (or any other restaurant that serves items a la carte). Classical economic theory, and specifically free trade, has at its heart but a few very simple and straight-forward concepts. Longworth would have us to abandon these in favor of a hodge-podge of a la carte bilateral trade agreements. If special treatment is desired for specific nations, do so on a political level. Don`t mess with the winning economic game plan.
