In a speech today before the Paris School of Economics, WTO Director General Pascal Lamy unleashed a blistering rebuke of modern protectionism.
Free trade gets a lot of attention from economics bloggers and economists in general. Small wonder. Politicians world wide seem to work tirelessly fighting free trade, perhaps not realizing that they’re working to reduce their citizen’s standard of living. The response to this idiocy is often fragmented and incomplete – thus unconvincing to non-economists. But Pascal Lamy has done the world a great service by rolling up the full picture. His speech should be referenced every time there’s a discussion of trade.