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Ignore Adam Smith

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From: The Washington Post
Date: 19960409
Author:

James Glassman {"Stripping the Myth Away," op-ed, March 26} attempts once again to perpetuate the myth that NAFTA is a success. Let's start with the peso crisis. Mexico never received an investment-grade rating from the two major credit reporting agencies in the United States. Meanwhile, the U.S. press ignored Mexican press reports of rebel activity in Chiapas a full six months before the outbreak of hostilities.

Contrast Mexico with the situation in Asia. The Asian tigers ignored the advice of U.S. academics and economists. They threw out Adam Smith. They did all the "wrong things," such ...

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