Strangled Harbors: The Devastating Economics of the Jones Act

If you want to ship a container of goods from Los Angeles to Hawaii, it will cost you significantly more than shipping that exact same container all the way to China. The culprit behind this absurd macroeconomic distortion is an obscure, fiercely guarded piece of protectionist legislation passed in 1920: The Jones Act. Also known as American cabotage law, the Jones Act strictly dictates that any...