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Quotation of the day on Trump’s protectionism….. – Publications – AEI

Summary:
AEI Quotation of the day on Trump’s protectionism….. …. is from Roger Scruton writing earlier this month in the New York Times “What Trump Doesn’t Get About Conservatism“: In another of conservatism’s founding documents, “The Wealth of Nations,” Adam Smith argued that trade barriers and protections offered to dying industries will not, in the long run, serve the interests of the people. On the contrary, they will lead to an ossified economy that will splinter in the face of competition. President Trump seems not to have grasped this point. His protectionist policies resemble those of postwar socialist governments in Europe, which insulated dysfunctional industries from competition and led not merely to economic stagnation but also to a kind of cultural pessimism that surely goes entirely

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AEI
Quotation of the day on Trump’s protectionism…..

…. is from Roger Scruton writing earlier this month in the New York TimesWhat Trump Doesn’t Get About Conservatism“:

In another of conservatism’s founding documents, “The Wealth of Nations,” Adam Smith argued that trade barriers and protections offered to dying industries will not, in the long run, serve the interests of the people. On the contrary, they will lead to an ossified economy that will splinter in the face of competition. President Trump seems not to have grasped this point. His protectionist policies resemble those of postwar socialist governments in Europe, which insulated dysfunctional industries from competition and led not merely to economic stagnation but also to a kind of cultural pessimism that surely goes entirely against the American grain.

Related: See today’s WSJ editorial “The Trade Casualties Mount” for more evidence that Trump’s trade war is backfiring and put the US economy and American workers at great risk.

Quotation of the day on Trump’s protectionism…..
Mark Perry

Mark Perry
Mark J. Perry is concurrently a scholar at AEI and a professor of economics and finance at the University of Michigan’s Flint campus. He is best known as the creator and editor of the popular economics blog Carpe Diem. At AEI, Perry writes about economic and financial issues for American.com and the AEIdeas blog.

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