ON PEACE, COMMERCE, AND TRUMP’S FOREIGN POLICY
The antidote to war is not peace.
The antidote to war is commerce.
This concept of cultivating peace by fostering commerce traces its roots back to Montesquieu and the Enlightenment.
The thought is that increasing commerce leads to shared interests, recognition of the rule of law, and growing prosperity, all of which preclude armed conflict.
At the end of WWII, the U.S. realized that only America, with about fifty percent of the global GDP, could reignite the fires of international trade, production, and competition.
In league with its wartime allies, agreements like Bretton Woods were executed and multilateral regulatory and monitoring organizations like the WTO were established.
With its enormous financial, military, and market clout, America was able to get the flywheel of global commerce moving again.
It worked, of course.
In 1945, global GDP was approximately $1T, while today it is about $117T.
Even better, the percent of the world’s population living in extreme poverty shrank from fifty-five percent to less than ten percent today.
These epic improvements are all due to the expansion of global commerce and free markets, driven by the U.S. sharing its markets, finances, and enforcement power.
But we still have war….it’s obvious to the casual observer that the outstanding component of the Trump Administration’s foreign policy is increasing commerce…
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