Tagged: free trade

Canada and the TPP - The Dismal Science

Eric Crampton Sep 28, 2015

Canada, you make me sad. Late last week, the Liberals said they won’t support any TPP deal that makes concessions on supply management in dairy. This is no longer the party of Martha Hall Findlay, who was about the lone voice of sanity on Canadian dairy. Here’s how the Liberals’ ag critic is now pitching it: “If … Read More

More evidence of free trade payoffs - The Dismal Science

Donal Curtin Sep 25, 2014

Post-election, thoughts have turned - finally - to policy. It's reported in the Herald that among the likely policy initiatives over the next three years, John Key "identified progress on a trade deal with South Korea, which is close to a conclusion, and the Trans Pacific Partnership as priorities".A bilateral deal with South Korea is definitely a good idea: … Read More

The payoff from a Free Trade Agreement - The Dismal Science

Donal Curtin Aug 05, 2014

Last week the Business Council of Australia released a report, Building Australia's Comparative Advantage, which in turn built on another report, Compete to Prosper: Improving Australia’s global competitiveness, which they had commissioned from McKinsey Australia. I haven't read either of them fully yet, and I'm not too sure whether I buy into the "let's aggregate industries into globally competitive … Read More

Currency controls invite arbitrage - The Dismal Science

Eric Crampton Sep 29, 2013

Among the items of Departmental Lore handed down through the ages to me, a then recent migrant to the country and member of the Department, were the tales from New Zealand's dark ages of capital controls and import controls. Prior to the reforms of the 1980s, you needed permission from the government to purchase foreign currency as capital controls were … Read More

Competition in small markets - The Dismal Science

Eric Crampton Sep 13, 2013

Another for the "New Zealand's Fixed Costs Matter" file: Aaron Schiff posts on the relative lack of competition in New Zealand. Where inefficient firms are driven from the market in other places, New Zealand has a long tail of pretty unproductive outfits. Roger Procter has dug into the stats a bit deeper and found that some New Zealand firms have … Read More

Safety preferences - The Dismal Science

Eric Crampton May 06, 2013

Economists know a few things. Among the things I think we know:People generally require compensation to take on a known risk of death or injury: safety is a good for most people; As people get richer, they require more compensation to take on a risk of given size: safety is a superior good; Risk-tolerance is heterogeneous across individuals, and not … Read More