Free Republic

It was very late on Christmas Eve, almost midnight, when the bell tolled for Ebenezer Bush. But as he lay awake, well past his bedtime, the knocking at his door grew louder and louder. `Who is there? What fell spirit has come to disturb me?' he cried out. Then, as the door opened, he saw the ghost. It was tall and thin, with small round glasses and a goatee beard. Tied to its body were some domestic dustbins, on each of which was scorched the word `History'. Around its neck was an anvil on which was written `I am the...

For education and discussion only. Not for commercial use. Since the dawn of time - or so it seems - supporters of traditional trade liberalization policies have emphasized that keeping markets wide open raises living standards by giving consumers the widest possible choice of goods and services along with the lowest possible prices. Have various trade agreements been net job and wage losers? Have they boosted imports much more than exports, thus producing huge trade deficits and foreign debts? No problem in either case, say the globalization cheerleaders. The price reductions fostered by open markets and import competition always outweigh...