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Winter 2017

ISSN 0890-913X

Volume 32, Number 4

Categories: Winter 2017 | Business communication

Trade and Our “Habits of the Lip”

Donald J. Boudreaux, George Mason University

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TradeandOur“HabitsoftheLip”TheJournalofPrivateEnterprise32(4),2017,109–119DonaldJ.BoudreauxGeorgeMasonUniversity______________________________________________________AbstractDeirdreMcCloskeyhasconvincedmethatthewordsweuse,our“habitsofthelip,”mattermightily.Iarguehere—inaMcCloskeyanspirit—thatthewordswetypicallyusewhendiscussinginternationaltradearehighlymisleading.Weeconomistsneedabetterapproachtopersuadingthepublictoimprovetheirunderstandingoftradeandtoshowingthatnationalboundariesareeconomicallymeaningless.Thehabitsofourlipsmustchange.______________________________________________________JELCodes:A11,F10Keywords:DeirdreMcCloskey,freetrade,tradedeficits,tariffs,nationalsavingsrateI.IntroductionDeirdreMcCloskeyhasconvincedmethathowwetalk—thewordsweuse,our“habitsofthelip”1—mattermightily.Wordsarenotmerelynominal.Wordsarereal,asaretheirconsequences.Withthisrealityinmind,Iarguehere—inaMcCloskeyanspirit—thatthewordswetypicallyusewhendiscussinginternationaltradearehighlymisleading.Weeconomistsneedabetterapproachtopersuadingthepublictoimprovetheirunderstandingoftrade.Thehabitsofourlipsmustchange.It’snotthatwedidn’tgetofftoanexcellentstart.ThecoreofAdamSmith’sstill-relevant1776volume,AnInquiryintotheNatureandCausesoftheWealthofNations,isanexhaustiveandbrilliantanalysisofthemercantilistcaseforprotectionism.Smithfamouslyfoundittobedeeplyflawed.Heshowedthatmercantilismisbuiltonquestionablepremises,thatitemploysflawedlogic,andthatitcorrespondspoorlywithpoliticalandeconomicreality.AndthewordsthatSmithusedtomakehiscaseweremuscular—asin“Nothing,forexample,canbemoreabsurdthanthiswholedoctrineofthebalanceoftrade”(1776,bookV,chap.3,para.31).1Thisphrase,whichMcCloskeyadaptsfromTocqueville’s“habitsofthemind,”appearsthroughoutherBourgeoistrilogy.

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Metadata [hide]

Title	Trade and Our “Habits of the Lip”
Authors/Creators:	Donald J. Boudreaux, George Mason University
Year:	2017
Volume:	32
Number:	4
Pages:	109 - 119
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Deirdre McCloskey, free trade, trade deficits, tariffs, national savings rate

Citation:
Boudreaux, Donald J. / 2017. "Trade and Our “Habits of the Lip”." The Journal of Private Enterprise, 32(4): 109-119.