Those countries that embrace free trade with new technologies stand to reap great rewards. Those who do not, and revert to trade protectionism, could experience economic recession and monetary adversity accompanied by serious social and financial upheaval.
Protectionism is not a recipe for prosperity—free trade is.
Americans will most gain from whatever trading opportunities that may offer themselves around the globe if the U.S. government follows a strict and principled policy of unrestrained and unrestricted free trade with any and all nations of the world.
“The philosophy of protectionism is a philosophy of war.”
International trade operates under the same general principles as domestic trade.
Is the protection of domestic jobs more important than the protection of individual rights?
With apologies to his fans, Jerry is an evil little mouse who constantly pesters Tom the Cat. Tom tries and tries, but cannot seem to overpower someone who is a fraction of his size and strength.
Watching Stephen Moore attempt to debate Paul Krugman was like that.
All who participate gain from international trade, and all are made poorer to the extent that governments interfere or prohibit the freedom of trade among the peoples of the world.