Bonus Quotation of the Day…
Tweet … is from page viii of Douglas Irwin’s 2012 book, Trade Policy Disaster: Lessons from the 1930s: The worst nightmare of every trade economist is that, in the midst of an economic crisis, policymakers might be tempted to return to the autarkic, beggar-thy-neighbor protectionism of the Great Depression. Such a move, it is feared, could easily spin out of control, with countries retaliating against one another in a race to close their markets to foreign goods. Not […]