Mr. Trump's Disastrous Plan to Keep Jobs In the U.S.

One of Donald Trump’s most consistent campaign promises has been to prevent U.S. businesses from moving good jobs to Mexico -- whether through taxes, jawboning, or more drastic means, such as an outright prohibition. Economists might regard this as a misguided form of protectionism, but in fact, it’s worse than that: If instituted, it could prove a major step toward imposing capital controls on the American economy and politicizing many business decisions.

Let’s consider how such a policy would be enforced in practice.