http://www.mises.org/story/2644
How the Shrimp Tariff Backfired
By Aleksandra Dunaeva and Don Mathews
Posted on 8/1/2007
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The great Frederic Bastiat (1801-–1850) taught that wealth can be obtained in two ways: it can be produced or it can be plundered. Production is undertaken by entrepreneurs. Plunder is often undertaken with the express assistance of government, taking the form of tariffs, taxes, subsidies, and other interventionist measures justified as policy in the public interest.
But entrepreneurs are not easily thwarted by government intervention. Sometimes entrepreneurs respond so creatively that they render the interventionist measure almost meaningless. A classic example of an entrepreneurial response to state-sponsored plunder is the case of the US anti-dumping tariff on imported shrimp.
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Bottom line: The American consumer got screwed and the politicians, lobbyists, and industry moguls got rich.
And, you think that the gooferment protect you?
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