… is one of the most important freedoms there is. It is at the heart of human progress, for the only way we can improve the quality of our lives is by trading with others to mutual benefit. This is true at the individual level—and it is true when it comes to trade between nations. This is so apparent that it shouldn’t even need to be said—and yet, it is forever under threat.
Check out the wonderful video below about the perils of protectionism—it looks to the Great Depression, and shows how the Smoot-Hawley tariff, by severely constricting free trade, harmed economies across the world. It is relevant to America today, where protectionism is in danger of making a resurgence—and it’s relevant to India as well.