You’re a high school track-and-field athlete. You work and work and WORK to master your craft. You hone your skills and nigh-perfect your technique.
Your dedication and hard work pay off. You start winning races. In fact, you dominate the sport.
Then a new person transfers into your district. They too run track. But they don’t do it clean. They are doing massive amounts of PEDs – Performance Enhancing Drugs.
No matter how hard you work, no matter how perfect your form – you can’t beat the cheater.
This, of course, isn’t fair. It is anti-equity.
This is exactly how it has been in global trade for decades. Freer market countries have sent their producers to compete globally – against PED-pumping countries benefiting from all the advantages their cheating delivers. (more…)
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