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That no country has practiced complete free-trade means Smith was wrong about free-trade? Scialabba is saying Smith was wrong to argue that protectionism would
by gruseom 16y ago
That no country has practiced complete free-trade means Smith was wrong about free-trade?
Scialabba is saying Smith was wrong to argue that protectionism would never be a net economic benefit because richer countries have in fact been more protectionist than poorer ones. Admittedly this doesn't follow strictly logically, but that's a technical point. More interesting is whether the claim about rich vs. poor countries is true. If it is, it's significant. Has anyone here read Ha-Joon Chang?
- eru 16y agoAs a counter-anecdote: India only started getting rich, when they dropped the protectionism somewhat. Perhaps rich countries can get away with more protectionism than poorer ones, and they are rich despite it, not because?