Freitag, 18. September 2009

aha ... he is no protectionist?

No protectionism, but bending to the tire workers and manufacturing unions, by accepting the ITC recommendation to raise tariffs on imported Chinese tires....
In contrast, it seems that Mr. Bush never followed an ITC recommendation to inhibit imports (and thus trade).
The loser is the consumer ... and, if the vicious circle continues, global welfare. Who knows, maybe this brings us faster to the necessary macro adjustments that probably need to take place in the next one or two decades ...


http://www.economist.com/opinion/displaystory.cfm?story_id=14450332