Trump and the Return of American Economic Nationalism
How the nineteenth-century battle between free trade and protectionism shaped the global economic order.
Credit: The 'Conspiracy' of Free Trade: The Anglo-American Struggle over Empire and Economic Globalisation, 1846-1896 by Marc-William Palen (Cambridge University Press, Feb 9, 2016)
- Protectionism, the political economic choice throughout the world history, is again in fashion.
- A protectionist shift is no radical departure for the United States. It’s a return to the status quo.
- The international turn to trade liberalization since the WWII represents the exception to protectionist rule.
- Republicans of yesteryear, like Trump now, sought to protect industries from foreign competition.
- Old GOP leaders said free-traders were agents of a vast British conspiracy to undermine America.