From destructive to creative trade through economic democracy

Jaroslav Vanek

A chapter in Advances in the Economic Analysis of Participatory & Labor-Managed Firms, 2010, pp 247-253 from Emerald Group Publishing Limited

Abstract: During the great depression of the 1930s, facing drastic unemployment and declining incomes, many of the European countries affected engaged in protecting their national markets through import protection. This beggar-thy-neighbor policy gave the economists’ profession an impetus to show what was happening and to conclude that restriction of free trade – the beggar-thy-neighbor policy based on repetitive retaliation – is detrimental to the economy, and thence the conclusion and recommendation of free trade.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eme:aeapzz:s0885-3339(2010)0000011014

DOI: 10.1108/S0885-3339(2010)0000011014

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