Last Tuesday I published an article in which I proposed a Border Adjustment Tax in order to counteract predatory players in the international system. You may see it as a tariff but I would not agree with you on that as their nature is so very different. The BAT would apply to any import from a particular country or region. I took a lot of flak for this article. People I respect very much have told me I am wrong. Maybe. Be assured, as a libertarian, I believe in freedom and open relationships between all people. But I also walk this planet for more than half a century now and the combined experiences from that tell me that academic reasonings don’t run this world. Most democracies descend into some form of mob rule and this makes them susceptible to manipulation by those who want to take advantage of our weaknesses. Extraordinary times require extraordinary means.
America’s economy is a massive beast. With just 4.3% of the global population, the U.S. produced 25% of the world’s GDP in 2019. As Mark Perry, a scholar at the American Enterprise Institu