Unmitigated Mercantilism
By Robert Higgs
This article appeared in the Winter 2001 issue of The Independent Review

Abstract

Created in 1934 to subsidize exports to the debt-repudiating Soviet Union, the U.S. Export-Import Bank is a clear-cut example of wasteful corporate welfare hiding behind economic fallacies. Yet a leading economist, former Treasury Secretary Lawrence Summers, somehow managed to tout its merits without blushing.



Other Independent Review articles by Robert Higgs
    Winter 2016   Ludwig von Mises and Dietrich von Hildebrand: Some Remarkable Parallels
    Fall 2015   How Big Is Government in the United States?
    Summer 2015   Gross Domestic Product—an Index of Economic Welfare or a Meaningless Metric?
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