Daniel Griswold is a Mercatus Center Senior Research Fellow and Co-Director of the Program on the American Economy and Globalization at the Mercatus Center at George Mason University. He joins the show to discuss the theory of trade, dating back to Adam Smith, and his work on current US trade policy. Daniel and David discuss some of the misconceptions surrounding trade and why Americans should embrace free trade instead of protectionism. This episode was originally aired on May 1, 2017. [To sign-up for Mercatus' NGDP prediction market, go to get.mercatus.org/ngdppredictions/. Just answer a few simple questions, and you'll receive an email invitation to start forecasting!] David's blog: macromarketmusings.blogspot.com/ Daniel Griswold's blog: madabouttrade.com/ David's Twitter: @DavidBeckworth Daniel Griswold's Twitter: @DanielGriswold Related links: "Plumbing America's Balance of Trade" by Daniel Griswold www.mercatus.org/publications/ame…balance-of-trade *Mad About Trade: Why Main Street America Should Embrace Globalization* by Daniel Griswold www.amazon.com/Mad-About-Trade-A…ion/dp/193530819X "The China Shock: Learning from Labor-Market Adjustment to Large Changes in Trade" by David Autor, David Dorn, & Gordon Hanson www.ddorn.net/papers/Autor-Dorn-…son-ChinaShock.pdf

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“What did the council decide on item 42?” — answered with the speaker and the moment.