Tag Archives: mercantilism

CEI Podcast for April 5, 2012: The Export-Import Bank


Have a listen here.

Every year, Washington spends more than $90 billion on corporate welfare – giving taxpayer dollars to private businesses. The Export-Import Bank is one of the most flagrant corporate welfare programs. A vote to reauthorize it recently failed both Houses of Congress, but will likely come up again soon. Vice President for Strategy Iain Murray thinks the Export-Import Bank should become an ex-bank.

Exports Good, Imports Bad?

Most people think that exports are good, and imports are bad. Exports create jobs, imports destroy them. Don Boudreaux, in one of his inimitable letters to the editor, quotes the economist Frank Knight on what this actually means:

“The man from Mars reading the typical pronouncements of our best financial writers or statesmen could hardly avoid the conclusion that a nation’s prosperity depends upon getting rid of the greatest possible amount of goods and avoiding the receipt of anything tangible in payment for them.”

Yes, people really do think that way. We call many of them politicians. Read Don’s entire letter here.