“Free Market” Economist Attempts to Defend Protectionism

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By the Price of Business, Media Partner of USA Daily Chronicles

Kevin Price, Host of the nationally syndicated, Price of Business show and national news editor of USA Daily Chronicles, recently interviewed Dr. Michael Busler, who is arguing that Trump’s protectionist policies are actually good for the United States.

According to a statement from Stockton University, after hiring Busler:

“The Richard Stockton College of New Jersey has named Michael Busler, Ph.D. to the School of Business faculty. Dr. Busler, who has been teaching on a part-time basis in the School’s MBA program, will be an Associate Professor at the College.

“Previously Dr. Busler, a resident of Longport, taught at the Graduate level at Penn State’s Great Valley campus and was a Visiting Professor at the University of Delaware and St. Joseph’s University. He holds a baccalaureate in Industrial Engineering, a Masters Degree in Business Administration in Finance and a Doctorate in Business from Drexel University.

“A prolific researcher and writer whose work appears in eight different academic journals, Dr. Busler presented research throughout the US, as well as Canada, England, Norway, Finland, the United Arab Emirates, Italy and Spain. He is also known for his editorials in several major metropolitan newspapers.”

Busler frequently mentioned that he was a “free market” guy through out the interview.  The more he said it, though, the less believable it became.  He cited his correspondence with the great Milton Friedman, and mentioned a course he had with Walter Williams at George Mason University.  These are two of the icons of free market economics.  Neither would support Busler’s position on protectionism.

Some of his bizarre arguments:

  • Protectionism would help unemployment.  Price asked, “what unemployment?”  The US has — what is considered by economists (including Busler) as “zero unemployment.”  Protectionism could only hurt a robust economy… that is certainly the lesson of history.
  • It will hurt China more than the US.  “Who cares?” Price asked.  He pointed out that China is a despotic government and does not face popular elections.  They can handle the pain way longer than the US.
  • It will help US manufacturing.  History does not support that position.  Protectionism in the US on the auto industry in the 1970s made this country go from the leader in value and quality cars, to the masters of mediocrity that took decades to recover from.

This was a very lively conversation and it required two segments.  Enjoy!

 

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