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There’s a 101-year-old law most Americans have never heard of, one that shaves tens of billions of dollars out of the U.S. economy every year for the narrow benefit of politically-influential shipbuilders, shipyard unions and shipping lines. The Jones Act does that by essentially barring foreign vessels from transporting freight or people between two U.S. ports. Among many other ill effects, the elimination of competition drives shipping prices far above what a free market would dictate. Only 46 countries have such laws, and, according to the World Economic Forum, the United States imposes the most stringent ones of all. The Jones Act not only requires that commercial vessels traveling between American coastal ports or along inland waterways be American-flagged, but also American-owned, American-built, American-maintained, American-repaired and American-crewed. In addition to covering transport from, say, Baltimore to Houston or river transport from New Orleans to St. Louis, the Jone...
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Brian McGlinchey
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