Thursday, March 6, 2008

Historical benefit of tarrifs

Interesting opinion by Pat Buchanan, showing that historically, tariffs helped the US economy.

Personally, I support implicit tariffs via Import Certificates.

Thom Hartmann recommends the economist Ha-Joon Chang's book "Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism'", which shows that all current "industrial"/"developed" rich economies, including the US, did so by using tariffs to protect their "infant industries" until they become rich economies.

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