If society collapses, do you have the medical supplies you need? Check out “The Medic,” or as I like to call it, the Big Daddy of first aid kits.
One principal takeaway from my previous essay for AIER is that the negative impact of imports on some domestic producers is not really what economists call a “negative externality.” That is, the negative consequences of fellow citizens choosing to buy more imports – consequences such as the loss of particular jobs and the bankrupting of particular firms in the domestic economy – are not violations of anyone’s property rights and, thus, are not properly called “negative externalities.” No ethical, economic, or legal harm has been committed and, thus, there’s no need, even in principle, for a government remedy.
Article by Donald J. Boudreaux from AIER.
Here I wish to go further and explain that it is a mistake to assert that the market fails to take adequate account of the full impact of expanding trade with foreigners. The motive for me to offer this explanation comes from an email sent to me by Mr. Jeremy T____ in response to my previous essay.
Here’s the core of Jeremy’s e-mail:
You [Boudreaux] ignored the fact the market attaches no value to job stability and the natural human desire that many have not to have to move out of our community simply to get a decent job. You ignore the market not considering the effects of cheap imports on these meaningful variables.
Jeremy’s allegation that under a policy of free trade the market ignores certain values that are important to people reminds me very much of Oren Cass’s objection to free markets and free trade. But this allegation is mistaken.
Under a policy of free trade, the market does not ignore the value that workers place on job stability or on remaining in their communities. It simply requires people who want more of these “meaningful variables” to pay for them.
First Glances Give Inadequate Understanding
At first glance, my claim that the markets account for the value that workers place on job stability or on remaining in their communities seem indefensible. After all, when Sarah in Sarasota chooses to buy lower-priced bed sheets imported from Malaysia rather than buy pricier sheets woven in Dalton, Georgia, Sarah is indeed thinking only of herself and her family. Attracted by the lower price of the imported bed sheets, Sarah buys those. She never thinks about the workers in Dalton who will lose their current jobs, or of the mill owners who might go bankrupt, because of her self-interested action.
Not only are these consequences not considered by Sarah, they’re not considered by the Malaysian textile firm that sells its output to American importers. These negative consequences are ignored also by the American importers and by retailers, such as Walmart, who offer these imports for sale to final consumers. Thus, it seems at first glance that the market really does ignore a significant negative consequence of imports.
Gimmicks work for many precious metals companies. I despise gimmicks, which is why I recommend the straightforward approach of Our Gold Guy. If you want to buy precious metals, don’t get jacked around. Contact Ira.
But economics is about getting pictures that are much more complete and accurate than are the impressions gotten by first glances. And economics reveals that Sarah’s decision to purchase the lower-priced imported sheets is key to how the market both informs producers and consumers everywhere of the increased global supply of textiles, and imposes on individuals the obligation to pay fully to exercise their preferences regarding the consumption as well as the production of textiles.
When Sarah and other consumers switch to buying lower-priced imported textiles (and, hence, buy fewer textiles produced in Dalton), they push down the prices that mill owners in Dalton can fetch for their outputs. These lower prices reveal the reality that textiles are now more abundant and so it’s no longer worthwhile to pay as much as before to produce textiles in Dalton.
The fall in prices for the outputs of Dalton’s textile mills, therefore, is an instance of the market working rather than of the market failing. With these falling prices, the market imposes upon – “internalizes” on – textile mill workers in Dalton the value of keeping their jobs. If those workers truly valued their mill jobs, or valued job stability, highly enough, they would be willing to work for lower wages in order to keep these jobs.
Workers have the Option of Keeping Their Jobs
Yet workers – in Dalton and elsewhere in wealthy market economies – generally do no such thing. They choose instead not to work at those particular jobs at lower pay. This fact is significant. It means that workers in Dalton are not unilaterally cast into the ranks of the unemployed by Sarah’s and other consumers’ decisions to buy imported textile products. Instead, these consumer decisions, conveyed in the form of lower textile prices, inform workers in Dalton that the value to fellow human beings (including to fellow Americans) of their existing efforts exerted in textile mills has fallen. Workers in Dalton thus have the option of working for lower wages at those jobs or losing those jobs and going in search of higher-paying jobs elsewhere.
The fact that nearly all workers today refuse to take pay cuts to retain their current jobs is a sign, not of market failure, but of the fact that workers generally believe that their other options are superior to working at lower pay in their current jobs. These other options include, of course, other jobs. But they also include retirement, living off of one’s family and friends, or living off of private charity or public assistance. The more attractive are these other options, the less attractive will workers find the option of keeping their current jobs at lower wages.
None of the above is to suggest that it’s not unpleasant to discover that fellow citizens have lowered the value that they attach to your current productive activities. Nor is it to suggest that adjusting to this discovery is easy. But it is to say that the market does indeed take account of the value to workers of their existing jobs. The very fact that most workers refuse to take pay cuts in order to keep their existing jobs reveals that these workers in fact do not value those jobs highly enough to keep them.
If government imposes tariffs to discourage Sarah and other consumers from buying imports, the result might be that textile workers in Dalton keep their jobs without having to take pay cuts. But notice the reason. The tariffs effectively compel Sarah and other consumers to subsidize jobs in Dalton textile mills. The textile workers themselves don’t value these jobs highly enough to keep them at their true market value, so protectionism is used to compel consumers to pay those workers to remain in jobs that those workers would otherwise quit.
Far from correcting a market failure, tariffs generate outcomes that mimic market failure. In this example, tariffs subsidize textile mill workers to remain in jobs not only that are not sufficiently productive to justify, but that the workers themselves would abandon if they had to bear the full cost of staying in those jobs.
We don’t allow Google ads here. We won’t post foot fungus treatments or soft-porn ads like other conservative news outlets. We WILL support MyPillow because they love America. You can support them and me by using promo code “JDR” at checkout.
Nothing is easier than for intellectuals to express displeasure with the observed manner in which individuals make trade-offs, and then to assert that this manner of making trade-offs implies a market failure. But assertions are not analyses. When analyzed carefully through the lens of economics, the need for producers to adjust to changes in consumer tastes and opportunities is seen to be, not evidence of markets failing, but of markets successfully taking into account as fully as possible the costs and benefits of alternative uses of scarce resources, including labor.
Most “Conservative” News Outlets Are on the Big Tech Teat
Not long ago, conservative media was not beholden to anyone. Today, most sites are stuck on the Big Tech gravy train.
I’ll keep this short. The rise of Pandemic Panic Theater, massive voter fraud, and other “taboo” topics have neutered a majority of conservative news sites. You’ll notice they are very careful about what topics they tackle. Sure, they’ll attack Critical Race Theory, Antifa, and the Biden-Harris regime, but you won’t see them going after George Soros, Bill Gates, the World Economic Forum, or the Deep State, among others.
The reason is simple. They are beholden to Big Tech, and Big Tech doesn’t allow certain topics to be discussed or they’ll cut you off. Far too many conservative news outlets rely on Google, Facebook, and Twitter for the bulk of their traffic. They depend on big checks from Google ads to keep the sites running. I don’t necessarily hold it against them. We all do what we need to do to survive. I just wish more would do like we have, which is to cut out Big Tech altogether.
We don’t get Google checks. We don’t have Facebook or Twitter buttons on our stories. We don’t have a YouTube Channel (banned), an Instagram profile (never made one), or a TikTok (no thanks, CCP). We’re not perfect, but we’re doing everything we can to not owe anything to anyone… other than our readers. We owe YOU the truth. We owe YOU the facts that others won’t reveal about topics that others won’t tackle. And we owe America, this great land that allows us to take hold of these opportunities.
Like I said, I don’t hold other conservative sites under too much scrutiny over their choices. It’s easy for people to point fingers when we’re not the ones paying their bills or supporting their families. I just wish there were more who would make the bold move. Today, only a handful of other major conservative news outlets have broken free from the Big Tech teat. Of course, we need help.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
Our network is currently comprised of nine sites:
- NOQ Report
- Conservative Playlist
- Truth. Based. Media.
- Freedom First Network
- Based Underground
- Uncanceled News
- American Conservative Movement
- Conservative Playbook
- Our Gold Guy
We are also building partnerships with great conservative sites like The Liberty Daily and The Epoch Times to advance the message as loudly as possible, and we’re always looking for others with which to partner.
Some of our content is spread across multiple sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
While donations are the best way to help, you can also support us by buying through our sponsors:
- MyPillow: Use promo code “NOQ” to get up to 66% off AND you’ll be helping a patriotic, America First company.
- ZStack: Improve your immune system with the Z-Stack protocol or rejuvenate your body from vaccines or shedding with Z-DTox by Dr. Vladimir Zelenko.
- OurGoldGuy: Tell them JD sent you in your request to buy gold and it will help us… AND (wait for it) you’ll be helping a patriotic, America First company.
- MyPatriotSupply: Stock up on long-term food, survival gear, and other things that you’ll need just in case things don’t recover and we keep heading towards apocalypse.
We know we could make a lot more money if we sold out like so many “conservative” publications out there. You won’t find Google ads on our site for a reason. Yes, they’re lucrative, but I don’t like getting paid by minions of Satan (I don’t like Google very much if you couldn’t tell).
Time is short. As the world spirals towards The Great Reset, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
Thank you and God Bless,
JD Rucker
Bitcoin: 32SeW2Ajn86g4dATWtWreABhEkiqxsKUGn
When preparing for societal collapse, don’t forget the water!