Why have nations at all, economically speaking?
This question is provoked by the fact that every few months, without fail, somebody writes to me and asks why, if the protectionism I advocate between the U.S. and the rest of the world is rational, why isn't it rational to have tariffs between the various states of the U.S.? And since it clearly doesn't make any sense to have tariffs on trade between, say, California and Oregon, it follows that nations shouldn't practice economic protectionism either.
Sounds good. In fact, some people proffer this argument as if it, on its own, settled all questions in the complex field of trade economics.
The first thing to understand is that valuing nations as economic units doesn't entail the idea that every nation is necessarily an appropriate economic unit. We are lucky enough, here in the United States, to live in one that is, but
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