Policymakers must be constantly reminded of the benefits of free trade and the costs of protectionism. Free trade is the extension of free markets across political borders. Enlarging markets to integrate more buyers, sellers, investors and workers enables more refined specialization and economies of scales, which produce more wealth and higher living standards. Protectionism does just the opposite. Congress and the administration should pursue policies that expand the freedom of Americans to participate in the international marketplace.
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Cato Project on Jones Act Reform
The Cato Institute aims to shake up this status quo by shining a spotlight on the Jones Act’s myriad negative impacts and exposing its alleged benefits as entirely hollow. By systematically laying bare the truth about this nearly 100 year old failed law, the Cato Institute Project on Jones Act Reform is meant to raise public awareness and lay the groundwork for its repeal or reform.