Economics Lesson for Understanding NAFTA versus USMCA: LPP EP 46

​In this Let People Prosper episode, I take a little more time than usual (hope you'll watch the entire episode) to share what economists like Adam Smith, David Ricardo, Daniel Hamermesh, Paul Krugman, and Milton Friedman said about international trade.

In summary, people prosper from trade (see my paper here) and I'm cautiously optimistic about the revised version of NAFTA which is now being called the US-Mexico-Canada Agreement (USMCA), especially with the reduction of some foreign trade uncertainty, but have many reservations of the toll the increased trade barriers put on the auto sector will have on Americans.

​The legislatures of each of these countries will not have 60 days to review and vote. Let us not forget the benefits of free trade and find ways to reduce trade barriers instead of erecting more. 

#LetPeopleProsper