Doug Irwin does a great job of contextualizing the benefits of trade, the cost of protectionism and the political reward (all presidents and Congresses earn this reward at the expense of American consumers and voters) for advancing protectionism.
Our current president is going down the road the both Bushes, FDR, and all those forgettable Republican presidents of the last quarter of the 19th century followed.
Saturday, October 16, 2010
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