All of these measures are designed to preserve and increase whatever edge American businesses have over their foreign competitors. This afternoon, Jimmy von Mises, of the libertarian-conservative Kaolin Institute, appeared uninvited and unannounced at a speech Rep. Fox was giving to the Connecticut branch of the American Manufacturing Institute. As Rep. Fox laid out his program for stronger regulation, Mr. von Mises' heckling from a front table became more and more passionate. Rep. Fox ignored the comment and continued on to discuss the Export-Import Bank, which makes loans to companies doing business overseas. Rep. Fox was discussing the bank's profit-making record for 1996 when Mr. von Mises jumped in again.
Most government agencies lose money.
Rep. Fox proceeded to the third plank of his program, strengthened anti-dumping and countervailing duty laws, which are designed to protect American industry from inroads in their home markets caused by foreign businesses selling at low prices. Particularly now that they're enforced arbitrarily against anyone American business doesn't like. Anti-dumping laws are an honest safeguard against economic terrorism from overseas. The only thing they safeguard is the possibility that someone might make an honest profit by underselling an American. Every time you open your mouth, all I hear is a bagman for industry, collecting money everywhere you go.