Podcast - Economic Nationalism vs Economic Freedom

Available for download here - http://www.preusspodcast.com/podcast-episodes/ep-311-economic-nationalism-vs-economic-freedom/

Steve Bannon told the country exactly what he believes in during a 60 Minutes interview on Sunday. It's called "economic nationalism", and it follows the line of thinking of Alexander Hamilton, (who argued against free trade) the Roosevelts (who believes strongly in central government) and Abraham Lincoln (who grew federal power more than any other president).

"Economic nationalism" is a new word for what Adam Smith argued against - mercantilism. Trade barriers, tariffs, protectionism. It works the same wherever it is applied. It benefits domestic producers at the cost of domestic consumers.

Free trade works. It works between cities, between states, and even though demagogues like Bannon would have you believe otherwise, it works on an international basis as well.