Fletcher's essay about the history of protectionism in the U.S. was eye-opening:http://m.huffpost.com/us/entry/713521
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My skepticism towards non-empirical economics is ~100%, but it's also high for historical cases/reviews. Easy to cherry-pick.
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For some examples of this kind of fake history, seehttps://humanvarieties.org/2017/03/21/inquiries-into-fake-history-antoine-duchesne-1766-and-georg-forster-1786-on-race-in-context-to-natural-history/ …
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I don't see the connection. The history of US trade seems more clear cut. There's a record of tariffs and statements about them.
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Point is not about US history, but arguing from case studies of history to infer that protectionism is or is not bad.
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That wasn't the main point of the essay, as I saw it. The main point was that it was widely thought of as good by US elites b4 mid-20th C.
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That, in and of itself, doesn't mean it's a good policy now, but Fletcher's point there was that many today are ignorant of the history.
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And he's right about that. I recall an op/ed column in the
@FT last year criticizing Trump that asked what Lincoln would think of his views. - 4 more replies
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The review doesn't really include the "what should replace it, and why?" part. Which I think is the most interesting.
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The alleged "assumptions" are mostly straw men. Noone thinks there are no positive externalities, for example.
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They just think that plan economy alternatives are worse most of the time.
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You can apply the same arguments against free markets within countries basically. It's true that they don't get the optimal outcome.
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But in most cases, plan economies do worse.
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If only someone invented a way to write longer texts than Twitter. Maybe we should call it an internet log, or maybe web log, blog for short
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He is not arguing for planned economy or against capitalism, silly. He is arguing against free trade.
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Same thing. Free trade is what the market does if governments don't interfere. He wants the government to plan a way to interfere.
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