The Return of the Protectionist Illusion (The Wall Street Journal)


[[{“type”:“media”,“view_mode”:“media_large”,“fid”:null,“attributes”:{“class”:“media-image alignright size-full wp-image-1615”,“typeof”:“foaf:Image”,“style”:“”,“width”:“100”,“height”:“100”,“alt”:“Wall Street Journal”}}]]In this Wall Street Journal opinion piece, Douglas Irwin, the Robert E. Maxwell 1923 Professor of Arts and Sciences and a professor of economics, voices concern about the policies being introduced around the world that restrict international trade in an attempt to protect local businesses and economies.

Irwin writes, “Any serious march backward toward protectionism would constitute a major failure of economic policy. Experience has shown that, once imposed, trade restrictions are very difficult to remove because vested interests then have a stake in perpetuating them.”

Read the op-ed, published 7/1/12 by The Wall Street Journal. A subscription is required to read the full text.

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