A big merchandise deficit is entirely consistent with a thriving economy. As people in a particular country grow wealthier than others, they may well purchase many more imports than the people in other countries do. That cannot be a bad sign. No matter how you slice it, the trade deficit is baloney. All individuals need economic freedom.
Trade restrictions are never justified.
An environment of freedom is the best way to ensure that people become as prosperous as possible. It is also the only way they can enjoy the right to life, liberty, and the pursuit of happiness, which still matters not only to Americans but to people the world over. Spike the trade-deficit stories, dear editors. Mr. Richman is senior fellow at The Future of Freedom Foundation and editor of The Freeman magazine. To subscribe to the print version of Freedom Daily Click Here .