Free Trade: Lou Dobbs and the new mercantilism

[RS Davis]

[glow=red,2,300]Julian Sanchez Wrote:[/glow] Columbia University economist Jagdish Baghwati once quipped that defenders of free trade have "no prizes or surprises." "No prizes" because the basic case for free trade is in many ways the same as that made in the time of Adam Smith and David Ricardo—not the sort of innovative technical work that garners Nobels. "No surprises" because it often seems as though free traders are trapped in a public policy version of Groundhog Day, forced to refute the same fallacious arguments over and over again, decade after decade.

- Rick