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"If soldiers are not to cross international borders, goods must do so" [2] – so wisely said a now-forgotten aide to F.D.R.'s Secretary of State Cordell Hull. And Ed Glaeser makes this important case [3] in yesterday's Boston Globe. Here's his closing paragraph:
Other countries provide us with clothes, cars, markets for exports, and
lending for the government and banks. Shutting our markets will make
life more expensive for us and hurt the rest of the world. In the
1930s, legislators embraced high tariffs, but putting America first led
to a devastating world war. Today, US lawmakers need to choose hope
over fear, and stick with free trade.
lending for the government and banks. Shutting our markets will make
life more expensive for us and hurt the rest of the world. In the
1930s, legislators embraced high tariffs, but putting America first led
to a devastating world war. Today, US lawmakers need to choose hope
over fear, and stick with free trade.