The Smoot Hawley Democrats

Sallie James:

As the Democratic candidates jockey for position in the primaries, free trade has taken a more prominent role than anyone expected. Exit polls in New Hampshire on Tuesday showed the economy was the No. 1 issue for voters there, with Democratic voters more concerned than Republicans. With economically floundering Michigan the next stop this Tuesday, we can expect more demagoguing on trade from the candidates.

Last week, the trade-skeptic activist group Iowa Fair Trade Campaign (whose name tells you all you need to know) sent a letter to all the candidates, asking for their views on "an acceptable trade and globalization policy." The results are revealing, if disheartening for advocates of more liberal trade and economic growth.

Overall, the five Democrats (the only respondents at press time) lay out an agenda more preoccupied with fair labor rights and environmental standards than the free exchange of goods between people who want to sell them and people who want to buy.

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She reviews the positions of the top three Democrats and find Hillary Clinton's the least worst. A history of the Smoot Hawley tariffs that caused the great depression is here. Google gives a long list of commentary on the terrible tariffs. Protectionism is self defeating. It is anti capitalistic. Its purpose is to stop the guy with the best product at the best price from being able to sell his goods to you. Tariffs lower the standard of living for all for the benefit of a few. It is the triumph of special interest over the majority.