Economic Freedom: The Key to Making Our Prosperity Enduring
Terry Miller /
The President asserted during a major speech in January: “One of the greatest contributions the United States can make to the world is to promote freedom,” he said. “A creative, competitive America is the answer to a changing world, not trade wars that would close doors, create greater barriers and destroy millions of jobs. We should always remember: Protectionism is destructionism.”
But the President who spoke those words was Ronald Reagan, in his very last State of the Union Address about 20 years ago.
How would President Reagan respond to today’s cynicism and doubts about the benefits of international trade and globalization? Some policymakers and politicians have increasingly argued that free trade primarily benefits low-wage countries, with outsourcing to their shores coming at the expense of our workers. But can we really protect jobs by erecting more barriers and by playing to people’s fears?