3 ms·
tl;dr Can someone summarize? Is he just saying that free trade isn't the only way to maximize national wealth? That perhaps Beggar Thy Neighbor can help ones
by mathattack 10y ago
tl;dr
Can someone summarize? Is he just saying that free trade isn't the only way to maximize national wealth? That perhaps Beggar Thy Neighbor can help ones own country if others don't follow suit? It was too drawn out for me to read the whole thing and rebut.
- nostromo 10y agoThe author is arguing that Mercantilism and Protectionism make countries richer than does unbridled Free Trade. I imagine OP posted this because it's at the core of the current US presidential debate. Interestingly, it's a debate happening within the parties, not just between them.
- scribu 10y agoThat may be the overall conclusion, but I find the many distinctions the article draws between Anglo-American economics and others quite interesting in themselves. For example, I thought the point about inequality was very well articulated: "In the real world happiness depends on more than how much money you take home. If the people around you are also comfortable (though, ideally, not as comfortable as you), you are happier and safer than if they are desperate." Edit: phrasing.
- abalashov 10y agoAs I said in a comment elsewhere, I don't think protectionism is really at the heart of the matter; the acceptance of various degrees of state-guided capitalist development are more thematically central to the "third way".