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View Diary: Econ 101: How Free Traders Distort "Comparative Advantage" (65 comments)

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  •  Actually... (0+ / 0-)

    ...I think China and India are developing rather similarly to 19th century Europe (industrialisation under conditions of autocratic rule) and the US (protectionism).


    "When the going gets tough, the tough get 'too big to fail'."

    by New Deal democrat on Sun May 06, 2007 at 11:38:49 AM PDT

    [ Parent ]

    •  I maybe wrong, but did the the major trading (0+ / 0-)

      partners of the 19th century autocratic Europe and protectionist US pursue free trade policies?

      •  By about 1900, yes. (1+ / 0-)
        Recommended by:

        That is one of the interesting things about the justifications for free trade is how now, just like a century ago, arguments are made that trade makes war between economically advanced countries unthinkable.  For example:

        In 1909, the British journalist Norman Angell wrote a book that was equally if not even more so debated among the governmental and intellectual elites of Europe called The Great Illusion. Angell believed that war in Europe was simply impossible. The intrinsic financial and economic linkages were so deep that the powers could never afford to engage in a continent wide conflagration.

        As I often say, free trade fundamentalism conclusively proves that World War I never happened

        "When the going gets tough, the tough get 'too big to fail'."

        by New Deal democrat on Sun May 06, 2007 at 11:57:53 AM PDT

        [ Parent ]

        •  No what it shows (0+ / 0-)

          is that nationalist stupidity can always overcome economic self interest.

        •  Don't feed the Daisy. (0+ / 0-)

          The enormous amount of cultural cosmopolitanism and golbalization of trade by 1900 may have been one of the enablers of massively destructive warfare in the next 100+ years.  Fascism and Communism may well have been the axiomatic equal and opposite reactions.

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