By Tom Giovanetti -
Yesterday, after Donald Trump’s remarkable screed against global trade, I went out to get a sandwich.
I gave the shop what they wanted, my money, and I got what I wanted, a sandwich.
We were both equally well-off, because it was a voluntary exchange of equal value. If I didn’t like the deal, I didn’t have to buy the sandwich. If they didn’t like the deal, they didn’t have to sell me the sandwich.
Moreover, because they are specialists at what they do, they make a far better sandwich than I do. It would cost me far more in time and trouble to try to make an equivalent sandwich for myself. It’s cheaper and more efficient for me to buy from a specialist than to try to do everything myself.