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Protect or Compensate?*

Published online by Cambridge University Press:  18 July 2011

John Hulley
John Hulley
Affiliation:
Mutual Security Agency.
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Extract

The postwar drive to liberalize trade, increase competition, and thereby improve productivity within Western Europe has met with determined opposition, as have similar attempts at reducing trade barriers in the United States. This resistance has come from a variety of groups which fear that their interests will be jeopardized as a result of keener competition, and its magnitude can hardly be overestimated. Indeed, it probably constitutes the major single barrier to European economic unification. Certainly, it can no longer be passed off with lectures on the virtues of competition, mobility of the factors of production, and international division of labor.

Type
Research Article
Information
World Politics , Volume 5 , Issue 3 , April 1953 , pp. 313 - 329
Copyright
Copyright © Trustees of Princeton University 1953

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References

1 Quantitative restrictions (quotas, etc.).

2 I.e., not 100 per cent “hyper-employment” of the total labor force. According to one of President Truman's Economic Reports to the Congress, unemployment should not exceed 4 per cent of the labor force.