This post elaborates on the July 11 piece in the Financial Times about the puzzling lack of protectionism in recent years. Pascal Lamy, director general of the World Trade Organization (WTO), has rung some low-sounding alarm bells, noting in mid-June that more than 100 trade-restrictive measures were implemented by G-20 economies over the previous seven […]
Just when the outsourcing debate seemed to reach bottom, it fell into the basement. Pandering started with Obama’s attack ads on Bain Capital, and by extension, Romney in his career as a maestro of private equity. The Washington Post contributed to the silliness with a long article dissecting Bain’s record in creating and eliminating jobs, […]
At the G-20 Summit, held in November 2008, leaders pledged to avoid protectionist policies. Before the ink was dry, India and Russia put up new barriers. Since the turn of the year, Britain has engaged in financial protectionism, France has proposed restrictive auto measures, and the United States has enacted a Buy American rider on […]
How did a children’s card game played in the 1800s become a central concern of economists in the 21st century? The phrase “Beggar-Thy-Neighbor” is everywhere these days in economic commentary, though many people may be unsure of its meaning. The phrase alludes to a country’s attempt to cure its own economic problems at the expense […]
The leaders of the world’s major economic powers (the so-called G-20 nations), convening in Washington on November 15, plan to discuss the global financial crisis and the need for reform of the international financial system. That seems like a lot to do on a weekend retreat. But in addition, the notables will also be asked to deal with the collateral damage to world trade caused by the financial and economic turmoil.