4 ms·
The Mind Behind Early American Protectionism
- deogeo 8y agoThe article is interesting, but I found this short statement much more persuasive: "Economist James K. Galbraith disputes these claims of the benefit of comparative advantage. He states that "[...] none of the world's most successful trading regions, including Japan, Korea, Taiwan, and now mainland China, reached their current status by adopting neoliberal trading rules."", from https://en.wikipedia.org/wiki/Comparative_advantage#Criticism https://en.wikipedia.org/wiki/Comparative_advantage#Criticis...
- SlipperySlope 8y agoI, for one, believe that each sufficiently large economy should use protectionism to ensure high wages for its workers. Tariffs are voluntary taxes as Abe Lincoln said back when he was making America great the first time.