More on Cato’s Protectionism
July 24, 2003
Cato’s incredible advocacy of pharmaceutical protectionism is especially ironic in light of the fact that Bill Niskanen is chairman of Cato precisely because of his free trade credentials. Around 1980 he was fired as chief economist for the Ford Motor Company because he refused to endorse automobile industry protectionism. He became quite the hero to free marketeers, especially Ed Crane. I wonder if he’ll do the same now and resign?
Last week a Cato fellow went on television and advocated military intervention in Liberia. This week it’s pharmaceutical industry protectionism. What’s next — a plea to raise taxes?
(Thanks to Bruce Bartlett for reminding me that it was Ford, not GM, that fired Niskanen).
Dr. Thomas DiLorenzo [send him mail] is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; The Problem with Socialism; and The Politically-Incorrect Guide to Economics.
Epstein and Patents