Impasse in North-South Policy Formulation

H. Peter Gray
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H. Peter Gray: Rutgers University

Chapter 6 in Free Trade or Protection?, 1985, pp 90-113 from Palgrave Macmillan

Abstract: Abstract The preceding three chapters have shown that the analytic base underlying the free-trade argument is not appropriate to situations in which the underlying conditions change at a rate which exceeds the capability of nations to adjust benignly. A free-trade or passive posture may not be the best policy for industrialised countries in turbulent periods. Moreover the process of change could be sufficiently severe that it invokes episodes of anarchy (as in British coalmines and the French steel industry in March and early April 1984). The process of adjustment and adaptation cannot be considered independently of the political process.

Keywords: Free Trade; Social Cost; Adjustment Cost; Wage Premium; Displace Worker (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-06983-5_6

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DOI: 10.1007/978-1-349-06983-5_6

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