I recently read a section of my internatinal trade textbook that called Pat Buchanan and Ross Perot Mercantalists for not being fans of high trade deficits. The text critisized Buchanan for saing that NAFTA and the World Trade Liberalizing Pact forced 4 million jobs out of the United States. It critisized Perot for saying that if the United States stopped trading it would be 100 billion ahead.
I don't think calling these two merchantalists is correct. Can you guys help me understand why my book is wrong? Or if maybe it is right?
The workmen desire to get as much, the master to give as little as possible...It is not difficult to foresee which of the two parties must force the other into a compliance with their terms. -Adam Smith
if there is something wrong with calling them mercantalists on the grounds of what they said.
NAFTA is mercantilism.
To paraphrase Marc Faber: We're all doomed, but that doesn't mean that we can't make money in the process. Rabbi Lapin: "Let's make bricks!" Stephan Kinsella: "Say you and I both want to make a German chocolate cake."