Thursday, October 20, 2016

Everyone Loses With Protectionism

Philip Cross: It's Canada vs. the protectionists in the new world trade wars

As a trading nation, Canada has much to lose if protectionism - clearly on the rise in the U.S. and Europe - gains more ground. Protectionist sentiment reflects a misunderstanding of how trade benefits the economy. The benefit does not come from a mercantilist maximizing of the surplus of exports over imports. Treating exports as good…