There’s a “Buy American ” clause in the economic recovery package now (ATOW) before congress.
Only U.S iron, steel and manufactured goods would be used in projects funded by the bill.
“That’s protectionism” goes the cry.
But what’s so wrong with protectionism ? If my job , my livelihood was being protected by this kind of measure i’d be quite happy.
And wasn’t it the much-vaunted “free market” that got the world into this mess in the first place ?
Or is the clamour against globalisation (and “foreigners” doing “our” jobs) simply a product of hard times and not economic clear-thinking ?
Here’s a word from the Financial Times article i linked to above :
“Those who have seemed to profit most conspicuously from open global markets have brought down the house on the rest of us.The anti-protectionism case must be made all the more determinedly for that – and nowhere stronger than in Europe. …… The single market has subsequently enriched the lives of Europeans in every dimension.”
Do you think protectionism is wrong ?