Free trade faded in the past and will again
Reader comment on: The Great Paradox of Future Capitalism
Submitted by Lyle (United States), Jan 28, 2010 15:19
Reading a Splendid Exchange. Free trade died on the rocks of agricultural protectionism in the 1890-1910 period. Recall that in 1850-1871 the UK and France had a version of the EU for themeselves. But once Napoleon III was overthrown the french farmer got the agreement canned. They wanted a protected market not one open to american, australian and ukrainian grain. Joseph Chamberlin (Neville's father) campaigned on a policy of empire protectionism but lost. If enough of society sees free trade as a loss as a democracy it will be done away with. The final straw was of course WWI which essentially bankruped Europe. If the a large part of the population is convinced that protectionism is the way to go, we will have it, that is the people's right.
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