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On the Other Invisible Hand...;Was Adam Smith, Fabled Free Trader, a Crypto-Protectionist
From: The Washington Post
Date: 19900722
Author:Peter Schweizer
Conventional wisdom holds that protectionism in any form is a violation of free-trade principle. In the debate over U.S. trade policy, it has become axiomatic that when national economic interests come in conflict with those of free trade, the former must suffer for the sake of the latter.
Predictably, many special interests take issue with such thinking. But the most powerful challenge comes from what many will find a surprising source: the founding father of free-market thinking himself-Adam Smith, who died 200 years ago this month.
To be sure, Adam Smith was a champion of free trade. No ...
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