What Is Free Trade?: An Adaptation of Frederic Bastiat's "Sophismes Éconimiques" Designed for the American ReaderBastiat, Frédéric
General
What Is Free Trade?: An Adaptation of Frederic Bastiat's "Sophismes Éconimiques" Designed for the American Reader
Bastiat, Frédéric
Free trade; Tariff -- United States
--+------------+------------+------------+----------------|
|Exports. | Imports. | Net profit |Immediate |
|Value in the| Foreign | to the |accretion to the|
|United | value. | individual.|country's stock |
|States. | | |of productive |
| | | |wealth. |
--+------------+------------+------------+----------------|
A | $10,000,000| $11,000,000| $2,000,000 | $2,000,000 |
B | | 1,000,000| 100,000 | 1,100,000 |
C | | 1,000,000| 100,000 | 1,000,000 |
D | | 1,000,000| 1,100,000 | 1,100,000 |
E | 1,000,000| 1,610,510| 610,510 | 610,510 |
F | | 200,000| 50,000 | 50,000 |
G | | 600,000| | |
H | | 250,000| 175,000 | 175,000 |
I | | 40,000,000| 4,000,000 | 4,000,000 |
J | | 1,440,000| 184,000 | 1,584,000 |
K | | 222,222| 22,222 | 22,222 |
L | | 25,000,000| | 25,000,000 |
M | | 1,000,000| 100,000 | 1,000,000 |
N | | 1,000,000| 100,000 | 1,100,000 |
O | | 16,644,220| 1,664,422 | 18,308,642 |
P | | 10,000,000| | 10,000,000 |
Q | | 48,000,000| 52,800,000 | 52,800,000 |
R | | 500,000| 500,000 | 500,000 |
S | | 1,655,659| 1,655,659 | 1,655,659 |
T | | 1,000,000| 1,000,000 | 2,000,000 |
U | | 200,000| 200,000 | 200,000 |
V | | 300,000| 30,000 | 330,000 |
W | | | | |
X | | | | |
Y | | | | |
Z | | | | |
--+------------+------------+------------+----------------|
$11,000,000|$163,622,611|$66,391,813 |$124,736,033 |
-----------------------------------------------------------
W, X, Y, Z, represent 43,628,427,835,109 other commercial
transactions, in all of which the parties to them and the countries in
which they live make money, but which, regarded from Mr. Greeley's
solitary point of view, should be stopped at once by appropriate
legislation.
These various transactions, it will be perceived, have netted to the
individuals engaged in them a clear profit of $66,391,813, while the
country has added to its immediate stock of wealth not only this sum,
but $58,344,220 over, viz: $124,736,033; while, according to the
Balance of Trade chimera, which simply weighs the custom-house reports
of the value of the exports with that of the imports (and their values
in their respective countries of production, too), this commerce has
been a loss to the country of $163,622,611--$11,000,000: $152,622,611.
Public-domain text, read in full here on John Shaqi.
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