Best Viewed with IE or Opera. Sorry, Firefox works, but loses some sidebar layout,
'my profile' and other stuff... Anybody with a fix, please leave a comment. Many thanks in advance.

That said, if you must use Firefox (and I don't blame you, it's become my browser of choice, too)
...get the "IE Tab" extension. This allows you to view problem pages with the IE rendering engine. Very cool!

Monday, March 20, 2006

Defining protectionism down

Economic "protectionism" is back in the news, with the conventional wisdom saying that it's bad. Trouble is, this isn't really what "protectionism" means.
Daniel Davies
March 20, 2006 12:36 PM
 
Economic "protectionism" is back in the news with a vengeance, with France objecting to takeovers in the steel sector, Spain putting together national champion utilities and the USA crying blue murder over Dubai Ports World's proposed acquisition of P&O. James Surowiecki had an article in the Saturday Guardian painstakingly setting out the conventional wisdom on this subject (ie that it's very bad). Trouble is, this isn't really what "protectionism" means.
 
Basically and historically, "protectionism" (and "mercantilism" and related terms) always used to refer to tariff policy, with respect to goods markets and trade between buyers and sellers. The use of the terms to refer to policies about capital markets and ownership of companies is a new one; I spotted it beginning to arise in the FT and Economist around the beginning of the 1990s and have been writing Mr Angry letters on the subject ever since. Because capital markets "protectionism" is much less bad than the goods market type and might not even be bad at all
-----

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home

free webpage hit counter

Performancing