Take the fact that there is not a single case on record in history of any country that has developed successfully through adherence to “free market” principles: none. Certainly not the United States. I mean, the United States has always had extensive state intervention in the economy, right from the earliest days—we would be exporting fur right now if we were following the principles of comparative advantage. Look, the reason why the industrial revolution took off in places like Lowell and Lawrence is because of high protectionist tariffs the U.S. government set up to keep out British goods.
...more
