Free trade, one of the greatest blessings which a government can confer on a people, is in almost every country unpopular

So the two champions of free trade, Britain and the US, were not only not free trade economies, but have been the two most protectionist economies among rich countries, i.e. until they each in succession became the world’s dominant industrial power.

In the long run, free trade is a policy that is likely to condemn developing countries to specialize in sectors that offer low productivity growth and thus low growth in living standards.

In the long run, free trade is a policy that is likely to condemn developing countries to specialize in sectors that offer low productivity growth and thus low growth in living standards.

The history of capitalism has been so totally re-written that many people in the rich world do not perceive the historical double standards involved in recommending free trade and free market to developing countries.