Nicholas Anthony

Dec 11, 2023 | cato.org | Norbert Michel |Donald Boudreaux |Johan Norberg |Nicholas Anthony

The US trade deficit is one of the most misunderstood concepts of all time, and it has spawned numerous bad policies. Continuing this tradition, some policymakers want to shrink the trade deficit by taxing international capital flows. Policies to shrink the trade deficit, including those that would tax capital flows, are highly flawed on theoretical, empirical, and practical grounds.

Nov 28, 2023 | cato.org | Donald Boudreaux |Johan Norberg |Nicholas Anthony |Scott Lincicome

Trade provides many benefits to consumers beyond “cheap T‑shirts.” Liberalizing trade increases product variety, boosts companies’ competitiveness, promotes innovation, and increases disposable incomes. Trade also provides nonfinancial benefits for people and their communities: by helping us consume more for less, we have more time for hobbies, charity work, or other forms of social interaction.

Nov 7, 2023 | cato.org | Nicholas Anthony |Donald Boudreaux |Johan Norberg |Scott Lincicome

Over the last 15 years, cryptocurrency has become a global phenomenon. For better and worse, cryptocurrencies have made headline news, become legal tender in El Salvador, and been the subject of several congressional hearings. Although Bitcoin and a few others have maintained consistent dominance, there is an estimated 26,355 cryptocurrencies currently in existence with a total market cap of over $1 trillion.

Oct 10, 2023 | cato.org | Johan Norberg |Donald Boudreaux |Nicholas Anthony |Gabriella Beaumont-Smith

In East Asia, the developing region that has globalized the most, the share of workers in extreme poverty was just 0.5 percent in 2022. In contrast, the region with the least foreign investment and participation in supply chains, sub-Saharan Africa, had a rate of 38 percent.

Sep 12, 2023 | cato.org | Donald Boudreaux |Johan Norberg |Nicholas Anthony |Gabriella Beaumont-Smith

Most simply, comparative advantage refers to a person’s ability and willingness to supply other people with a good or service that these other people cannot otherwise acquire at a lower cost. Described this way, comparative advantage appears trite: To say that Ann has a comparative advantage at supplying fish to Bob is to say only that, at least for Bob, the lowest-cost supplier of fish is Ann.