Party like it's 1994, because protectionism is alive and well

by William Lu | 11/06/2018

 In 2012, the Booth School of Business at the University of Chicago polled its panel of economics experts, made up of professors from some of the most prestigious universities in the United States, on two questions. The first asked if the productive efficiency and greater choice afforded by free trade outweighed any effects on employment in the long run. The second asked if United States citizens are better off with the North American Free Trade Agreement than they would have been under the prior trade rules with Mexico and Canada. In both cases, the results were undisputed. All but two of the 40 experts agreed that free trade and NAFTA were the better option, and the remaining two answered “unclear.” Not a single one of the experts disagreed.