Word: whitmans
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...what's that they say about learning a little economics being more dangerous than knowing none? I refer to "Reassessing America's Free Trade Policies" (March 13) by Bradley Whitman. With such a delightful list of dressed-up economic half-truths, one would surely be remiss not to take a bite! Or maybe, just...
...Whitman writes that "the restraint of competition stifles innovation and also contributes to lower levels of productivity and standards of living." Yet he later advocates the subsidizing of American companies in foreign markets "until all foreign companies go bankrupt" after which "American companies could then assume control of the market...and the United States would be free to extract economic rents indefinitely." This is a clear contradiction; the benefits of competition are presumably the same, whether in the US computer industry or the Japanese kimono market...
...Whitman adds that the U.S. should employ its considerable economic and political clout to "pry open the markets of other nations for our benefit and the benefit of the world economy." Global liberalization is indeed a worthy cause, but only if promoted within a multilateral framework, such as that offered by the much-maligned World Trade Organization...
...sort of unilateral school-yard bullying Mr. Whitman recommends is precisely the sort of tactic most inimical to a liberal free-trading order; the assorted euphemisms of "fair trade" "reciprocity" and "objective targets" often mask crude attempts at protectionism and managed trade...
WASHINGTON, D.C.: Now that Bob Dole has wrapped up the Republican presidential nomination, he must begin contemplating his choice for running mate. On Wednesday, Gov. Christie Todd Whitman said she told the Dole campaign she wants to remain governor of New Jersey and has no interest in joining Dole on the GOP ticket. "I told him that I appreciate all this discussion that was going on, but indicated that I still wanted to stay in the state of New Jersey," Whitman said. "So I'm going to continue to be governor of the state of New Jersey...