In his 1997 article in the Journal of Economic Literature, Paul Krugman famously stated that “The economist's case for free trade is essentially a unilateral case: a country serves its own interests by pursuing free trade regardless of what other countries may do.” This statement has become a kind of rallying cry for those opposed to the trade war initiated by the current US administration; proof that the trade war will hurt American interests in the long term.
And though Mr. Krugman, a winner of the Nobel Prize for Economics chooses to stand by this statement, the ...
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