Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (37601)	8/31/2003 5:42:00 AM
From: Raymond Duray	Read Replies (1) of 74559

Re: I used to think "free trade" meant being allowed to buy and sell multinationally. I didn't realize it included no tariffs. The whole idea of the free traders at the WTO is to lower tariffs. As many U.S. politicians have pointed out to no avail against the NAFTA and WTO crowd, the U.S. became strong because it had protective tariffs to nurture home grown industries and prevent other countries from dumping goods. At that time, in the 19th Century, the British would have happily crushed the nascent steel, railroad rolling stock and textile industries of the day. They were the quintessential neo-liberals of the day. Thank god the wise men in Washington didn't listen to this rapacious bunch of free traders. Otherwise we might still be the sort of ruined nation that free trade has created in Argentina.

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