Cheap Stuff Makes You (and America) Cheap

nebraskaenergyobserver

This needs to be said, nay it needs to be shouted from the housetops. From Curtis Ellis, writing in American Greatness.

It’s well past time to ask whether procuring cheap imported consumer goods should be the goal of our foreign trade policy and if it’s the best way to raise Americans’ standard of living.

These questions have been the subject of debate throughout our nation’s history. America’s Founders answered with a resounding “No.”

The tea sold by the British East India Company underpriced the leaf colonial merchants were offering. King George’s prime minister Lord North believed that would convince Americans to buy it. “For,” as North said, “men will always go to the cheapest markets.” The Sons of Liberty tossed it in Boston Harbor instead.

The new nation’s first significant piece of legislation, the Tariff Act of 1789, among other things, sought to prevent lower-cost foreign goods from…

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