Obama just passed a protectionism bill protecting the tire companies from foreign competition. Art Carden explains how the Law of Comparative Advantage makes this a bad idea that may help the tire makers but hurts Americans in general:
The salutary effects of trade are sometimes hard to see, but they are very real and very important. By embracing protectionism, President Obama has adopted a policy that works against his supposed concern for Americans' well-being by reducing innovation, destroying wealth, perverting incentives, and encouraging destructive nationalism. Protectionism gives politicians an opportunity to appease special interests, but we're all worse off for it.