I know examples of trade wars resulting in global immiseration and war. Are there any examples of trade wars in which one party wins by extracting better terms for itself? Real question.
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Replying to @wesyang
The US tariff regime in the 19th century. We had more resources than UK/Germany, but couldn’t achieve economies of scale without tariffs.
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Replying to @matthews_bd @wesyang
In general the pure “free trade wins” arg assumes no economies of scale/agglomeration effects.
5:48 AM - 29 Jun 2018
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