Free Trade Versus Interventionism
摘要
The typical consequence of protectionism is to reduce the volume of trade and thereby the international division of labour. But public policies sometimes also aim at inflating international trade beyond its natural boundaries. Such policies, too, have a negative impact on aggregate production. Free trade should therefore not be conceived in opposition to protectionism, but to interventionism. The proper policy objective of free traders should be to get the government out of the picture as far as possible.