. . .
The effects of any form of undisguised wall-to-wall US protectionism on
world trade today would be presumably, completely catastrophic, the debacle
even worse than 1929-31. Is the Godley view that this debacle is inevitable
anyway, so it's a case of sauve qui peut? Mark Jones
I presume
Mark Jones wrote:
Incidentally, the Godley paper lays policy emphasis on import controls. This
looks like impish humour, since it is hard to imagine how such a policy
could be implemented without doing even more damage. As Jim Devine says, the
cure is worse than the disease:
To summarize, U.S.
In any event, the world political economy has changed, undermining
the political basis for protectionism
Jim, I check the archives often, and have learned a great deal from
your posts. Not sure I agree here. Wouldn't the US state like to
run a trade deficit to its own mnc's and thus
