Tariffs: Reality Check
In 1776 Adam Smith stated: “It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy. If a foreign country can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage.” This is the natural order of economics. Tariffs attempt to disrupt this law of Read More