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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
    Spring 2014   The Salmon Trap: An Analogy for People’s Entrapment by the State
    Winter 2014   Worrisome Changes in U.S. Labor Force and Employment since 2007
    Fall 2013   The Sluggish Recovery of Real Net Domestic Private Business Investment
[View All (45)]


Volume 5 Number 3
Winter 2001

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