Status Updates From The Economics of Discontent...

The drop in tariffs – a deliberate policy consciously pursued by governments – has been a more important factor than the decline of transportation costs, a largely technological phenomenon that has occurred outside of governments’ direct control. In 1958, transport expenditures were half the amount of tariffs paid for a typical good. By 2004, the median individual shipment to the U.S. paid 9 times as much for transpo