on January 16, 2003
Fantastic analysis of international free trade and the coming of age of economic globalization. Irwin is a diamond in the rough when it comes to economic author. He writes in such a way that is fairly easy to understand, all the while not comprimising the quality of the material. Granted, any previous knowledge of Economics is obviously beneficial to the reader, but in no way an absolute must.
Second, Mr. Preston Enright above seems to oppose corporate subsidies and welfare. Well, Mr Enright, so do the most staunch defenders of free-trade and capitalism: libertarians. I would not so much call myself a Libertarian but, like yourself, am also ardently opposed to corporate welfare, as it places an unwarranted burden on taxpayers and forces them to involuntarily support a cause, whereas they should only support the firm with their purchases from that corporation. Corporate welfare is, indeed, a rotten policy enacted but liberals and conservatives alike that, just as other forms of subsidies and welfare, create an unhealthy and unwarranted dependency on Washington (or wherever the largesse may originate), artificially lower prices, discourages innovation and efficiency, and ultimately harms the taxpayer and the consumer. Preston Enright is correct that this type of 'free trade' (not free to the mass of those who should benefit: the consumer) is only beneficial to the management and executives. Although, I'm guessing by his scattered and fiery writing style that he would be opposed to the free market, welfare or no welfare.